First time in 15 years, Maruti Suzuki posts first quarterly loss

  • by Staff@ TSD Network
  • July 29, 2020
maruti-suzuki-india-posts-first-quarterly-loss-in-at-least-15-years

Countries largest automaker, Maruti Suzuki India Ltd posted a quarterly loss for the first time in at least 15 years on Wednesday. This is pure because production and sales were hit due to coronavirus lockdowns and supply chain disruptions.

According to the report from Reuters’, this New Delhi-headquartered company logged a net loss of $33.30 million (₹249 crores) for the first quarter of 2020 that ended June 30, compared with a profit of 14.36 billion rupees (₹1,436 crores) a year ago.

Also, as predicted by some experts, the unit sales at the carmaker dropped 81% to 76,599 vehicles for the first quarter (Q1’20) ended June 30, from a year earlier, but Maruti said here the numbers were not comparable as it had to suspend operations from March 22 when India went into lockdown.

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Staff@ TSD Network

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