Maruti Suzuki India slides on weak sales in March

Maruti Suzuki India fell 0.57% to Rs 4,263.45 after the company's total sales tumbled 47% to 83,792 units in March 2020 from 158,076 units in March 2019.

Total domestic sales dropped 46.4% to 79,080 units in March 2020 from 147,613 units in March 2019. Total exports stood at 4,712 in March 2020, down 55% from 10,463 units in March 2019.

On a month-on-month (M-o-M) basis, the car major's total sales tanked 43.04% in March 2020 from 147,110 units in February 2020.

The firm stated that the sales during March 2020 are not comparable with sales in March 2019 due to the suspension of operations with effect from 22 March 2020, in line with national lockdown policy. The announcement was made during trading hours today, 1 April 2020.

Maruti Suzuki India's consolidated net profit rose 4.13% to Rs 1,586.90 crore on a 3.8% increase in net sales to Rs 19,655.50 crore in Q3 December 2019 over Q3 December 2018.

Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles).

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