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Maruti Suzuki posts all-time high Q3 sales of Rs 475,344 million
NEW DELHI: Maruti Suzuki India has posted its strongest-ever quarterly sales, riding a sharp recovery in the passenger vehicle market triggered by recent GST reforms and a renewed surge in demand for small cars.
For the October–December quarter of FY 2025–26, the country’s largest carmaker clocked record domestic sales of 564,669 units, up from 466,993 units a year earlier. The small car segment in the 18 per cent GST bracket accounted for more than two-thirds of the incremental volume, underscoring the price-sensitive revival.
Total sales for the quarter touched an all-time high of 667,769 units, including exports of 103,100 units, compared with 566,213 units in the same period last year.
The volume surge translated into record quarterly net sales of Rs 475,344 million, up from Rs 368,020 million a year ago. Net profit rose modestly to Rs 37,940 million, from Rs 36,593 million, weighed down by a one-time provision of Rs 5,939 million linked to the implementation of new labour codes.
For the nine months ended December 2025, Maruti Suzuki also delivered its highest-ever sales volume, revenue and profit. Total sales reached 1,746,504 units, up from 1,629,631 units a year earlier, with domestic sales at 1,435,945 units and exports at 310,559 units.
Net sales for the nine-month period climbed to Rs 1,242,908 million, from Rs 1,062,589 million, while net profit rose to Rs 108,549 million, compared with Rs 104,403 million in the previous year.
The company also noted that Suzuki Motor Gujarat, its wholly owned manufacturing arm, was amalgamated into Maruti Suzuki India from 1 December, 2025, with financials restarted from 1 April, 2025.
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YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
