Maruti Q1 net dips 32 percent at Rs 1,377 cr
New Delhi: The country's largest carmaker Maruti Suzuki India (MSI) on Friday reported 31.67 percent decline in consolidated net profit at Rs 1,376.8 crore for the first quarter ended June 30, on account of lower sales volume and higher depreciation expenses.
It had posted a net profit of Rs 2,015.1 crore in April-June 2018-19, MSI said in a regulatory filing.
Revenue from the sale of products was at Rs 18,738.8 crore as compared with Rs 21,813.8 crore earlier, down 14 percent.
Depreciation and amortization expenses during the first quarter stood at Rs 919 crore as compared with Rs 720.3 crore in the year-ago period.
The company sold a total of 4,02,594 vehicles during the quarter, lower by 17.9 percent as compared to the same period the previous year. Sales in the domestic market stood at 3,74,481 units, lower by 19.3 percent. Exports were at 28,113 units.
Shares of Maruti Suzuki were trading up 1.88 percent at Rs 5,868.65 apiece on BSE.
