Maruti Suzuki drops on weak production numbers in Feb

Maruti Suzuki India fell 2.05% to Rs 6,234.20 after the company's total production dropped 21.31% to 1.40 lakh units in February 2020 from 1.79 lakh units in January 2020.

Total passenger vehicles fell 20.51% to 1.40 lakh units in February 2020 from 1.76 lakh units in January 2020. Production of light commercial vehicles slumped 77.52% to 563 units in February 2020 from 2,505 units in January 2020.

On a year-on-year (Y-o-Y) basis, the company's total passenger vehicles slipped 4.86% in February 2020 over 1.47 lakh units in February 2019. Production of light commercial vehicles were down by 60.04% in February 2020 over 1,409 units in February 2019. Total production declined 5.38% in February 2020 over 1.48 lakh units February 2019.

Maruti Suzuki India on Thursday (5 March) partnered with HDB Financial Services, a non-banking financial company (NBFC), to facilitate customized car loans for customers, for both new and used cars.

Maruti Suzuki India's consolidated net profit rose 4.1% to Rs 1586.90 crore on a 3.8% rise in net sales to Rs 19,655.50 crore in Q3 December 2019 over Q3 December 2018.

Maruti Suzuki India (MSIL) is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles). The other activities of the firm comprise facilitation of pre-owned car sales, fleet management and car financing.

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