Maruti Suzuki today reported 27.3% fall in net profit for the April-June quarter, dragged down by lower sales. But it was better than what the Street had expected. Maruti Suzuki shares were up 2% in afternoon trade.
The car maker reported a net profit of ₹1,435.5 crore, down 27.3% compared to the same period if the previous year largely on account of lower sales volume and higher depreciation expenses.
During the quarter, the company registered net sales of ₹18,735.2 crore, down 14.1% compared to the same period previous year.
Maruti Suzuki sold a total of 402,594 vehicles during the quarter, lower by 17.9% compared to the same period previous year. Sales in the domestic market stood at 374,481 units, lower by 19.3%. Exports were at 28,113 units.
Maruti Suzuki Q1 results: Net profit at ₹1,435 crore, beats estimates – Livemint