Maruti Suzuki India Posts First Quarterly Loss In At Least 15 Years
The New Delhi-headquartered company logged a net loss of 2.49 billion rupees ($33.30 million) for the three months ended June 30, compared with a profit of 14.36 billion rupees a year ago.
Maruti Suzuki India Ltd posted a quarterly loss for the first time in at least 15 years on Wednesday, as the country's largest automaker's production and sales were hit due to coronavirus lockdowns and supply chain disruptions.
The New Delhi-headquartered company logged a net loss of 2.49 billion rupees ($33.30 million) for the three months ended June 30, compared with a profit of 14.36 billion rupees a year ago.
Unit sales at the carmaker dropped 81% to 76,599 vehicles for the quarter ended June 30, from a year earlier, but Maruti said the numbers were not comparable as it had to suspend operations from March 22 when India went into a lockdown.
(Reuters)
