Maruti Suzuki India reported a 4.1% year-on-year increase in net profit for the third quarter of FY26, supported by a sharp rebound in domestic demand following the government’s GST reduction on small cars and two-wheelers. The country’s largest carmaker posted a profit of ₹3,879 crore in Q3 FY26, compared to ₹3,726 crore in the same quarter last year.
On a sequential basis, profit rose a strong 15.8%, driven by higher volumes after the Centre reduced GST on small cars and two-wheelers below 350cc from 28% to 18% in late September. The company said the reform led to a significant revival in the passenger vehicle market, particularly in the entry-level segment.
Maruti Suzuki achieved its highest-ever quarterly domestic sales during the period, selling 564,669 units, up nearly 21% year-on-year from 466,993 units in Q3 FY25. Of the additional 97,676 units sold, small cars under the lower GST bracket contributed 68,328 units, underlining the impact of the tax cut. Exports during the quarter stood at 103,100 units.
The strong demand recovery also reflected in revenue performance. Net sales increased 17.8% sequentially to ₹49,904 crore in Q3 FY26, compared to ₹42,344 crore in the previous quarter. Total income for the quarter rose to ₹50,959 crore.
However, employee benefit expenses increased sharply due to the implementation of four labour codes in November, with costs rising to ₹2,700 crore from ₹1,786 crore a year earlier.
For the nine months ended December, total sales reached 1.74 million units, with domestic sales of 1.43 million units and exports of 310,559 units.
