Operating profit increased by 115 billion yen (32.8%) YoY to 465.6 billion yen.
"We will continue to promote the expansion of our SUV models (in India) and aim to recover our total passenger car share," Suzuki Motor Corporation said in a statement.
Currently, Maruti Suzuki sells SUV (sport utility vehicle) models like Brezza, Jimny and Grand Vitara in the domestic market.
The company's market share has come down to around 42% from over 50% a couple of years back in the domestic passenger vehicle segment on account of limited options in the SUV segment.
With the market demand rising for SUVs, the company is in the process of bolstering its presence in the segment and regaining its market share.
Suzuki Motor Corp said that in April 2024, a new production line with an annual capacity of 1 lakh units started operations at the Manesar plant.
The company said it plans to secure a production capacity of around 40 lakh units in India by FY2030.
Suzuki Motor Corp said it expects record sales and profits this fiscal due to higher unit sales.
"The company is compiling strategies in various fields, including technology, and will announce the new mid-term management plan by the end of FY2024," it stated.
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