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Maruti Suzuki Q3 Results: Revenue up ~30%, profit shows labour-code impact

Maruti Suzuki Q3 Results FY26: Net profit of India's largest car maker rose 3.7% YoY to ₹3,794 crore, on revenue that surged 28.7% YoY to ₹49,892 crore.

Updated on: Jan 28, 2026, 14:31:17 IST

By Tushar Deep Singh

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Maruti Suzuki India Ltd. has clocked its highest quarterly revenue in October-December 2025 on car sales fuelled by the festive season and GST 2.0.

The Maruti Suzuki brand logo is seen on a vehicle during the 4th International Autoshow 2025 at the Palace Grounds in Bengaluru on November 14, 2025. (Photo by Idrees MOHAMMED / AFP) (AFP)

Standalone net profit of India's largest carmaker rose 3.7% over the year-ago period to ₹3,794 crore, on revenue that surged 28.7% year-on-year to ₹49,892 crore, according to an exchange filing on Wednesday (28 January 2026).

Analysts polled by Bloomberg had estimated the top line at ₹50,474 crore and the bottomline at ₹4,416 crore.

Maruti Suzuki Q3 Results FY26 (Standalone, YoY)

Revenue up 28.7% at ₹49,892 crore (Estimate: ₹50,474 crore)
EBITDA up 10% at ₹5,572 crore (Estimate: ₹5,843 crore)
EBITDA margin down 190 bps at 11.2% (Estimate: 11.6%)
Net profit up 3.7% at ₹3,794 crore (Estimate: ₹4,416 crore)

One basis point is one-hundredth of a percentage point.

The company has reported a one-time exceptional cost of ₹594 crore due to implementation of India's new labour codes.

This is a developing story. More to come.

ABOUT THE AUTHOR

Tushar Deep Singh

...Read MoreTushar Deep Singh is a business journalist and digital editorial leader with 12 years of experience in financial journalism. Currently Assistant Editor at Hindustan Times, he is building the HT Business vertical and managing the newsletters for both Livemint and HT. When not in the newsroom, he can be found on a motorcycle. Throughout his career, Tushar has been instrumental in scaling digital publishing operations at some of India’s largest financial news websites. His six-year tenure at Mint—the first job—saw him plunge into online media to deliver record-breaking digital engagement for Livemint.com, including 7.2 million page views on 2017 UP Election Results day. He held fort at Livemint during a senior-level leadership transition later that year. That won him the HT Media Star Award (Bronze) in 2017 and a Certificate of Appreciation for Editorial Excellence in 2018. As the head of the digital desk at ETtech, he curated two daily, full-stack newsletters from an editorial as well as product perspective. At NDTV Profit, he transitioned from website editor to principal correspondent, reporting on the auto sector for the TV channel and website, thereby adding yet another layer to his editorial expertise. He is a post-graduate in journalism from Xavier Institute of Communications, Mumbai, and a graduate from St. Xavier's College, Ahmedabad. Read Less

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