New Delhi: India’s leading carmaker Maruti Suzuki's standalone net profit jumped 43% year-on-year (YoY) to Rs 2,624 crore for the fourth quarter ended March 2023.

It was Rs 1,839 crore in the same period last year.

The auto major's revenue from operations surged 20% YoY to Rs 32,048 crore for the fourth quarter. The same stood at Rs 26,740 crore a year ago.

The board has approved a dividend of Rs 90 per share for the financial year 2022-23.

Further, the Board has given in-principle approval for additional creation of up to 1 million vehicles per year.

The total existing capacity is around 13 lakh units in Manesar and Gurugram. The investment required for the proposed capacity addition would be finalised in due time while framing the phases of installation of capacity.

Maruti said its new models and product refreshers introduced during the year specially in the utility vehicles segment received good market response.

Following the announcement of the results, Maruti shares were trading 0.43% higher at Rs 8,504.95 on NSE. The index heavyweight has offered flattish returns so far this year.

ALSO READ: Reliance GI ties up with YES Bank to accept RBI e-Rupee