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Maruti Suzuki's net loss at ₹249 cr in Q1FY21; first loss in a decade

Jul 29, 2020 16:48 IST

The country's largest carmaker Maruti Suzuki reported a net loss of ₹249 crore in the June quarter as against a net profit of ₹1,435 crore in the corresponding quarter of the previous year. This is the company's first quarterly loss in more than a decade. As per the exchange filing, revenue from operations declined 79% year-on-year to ₹4,106 crore. Net sales declined 80% to ₹3,677 crore as against ₹18,735 cr in the year-ago period. A large part of the quarter had zero production and zero sales in compliance with a lockdown stipulated by the government, the company said. The company sold a total of 76,599 vehicles during the quarter. Sales in the domestic market stood at 67,027 units. Exports were at 9,572 units.

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