Maruti Suzuki India’s Net profit in the Q4 stood at Rs.1,219 crore, lower by 28.1% over the same period previous year on account of lower sales volume. Net profit for the fiscal year stood at Rs. 5,650 crore, lower by 24.7% over the same period previous year.
Maruti Suzuki India’s March-quarter profit fell 28% as poor demand for cars during the period was exacerbated by a nationwide lockdown to halt the spread of the novel coronavirus, hurting sales at the country’s top-selling carmaker.
India’s largest carmaker by market value reported a net profit of ₹ 1291 crore ($171.53 million) for the March quarter, down sharply from ₹ 1796 crore in the same period a year earlier.
Domestic unit sales at the carmaker dropped 16% to 360,428 vehicles for the quarter ended March 31 from a year earlier. Sales in the final month of the quarter were particularly hit as most carmakers had to suspend operations from March 22 due to the country’s lockdown.
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