Maruti Suzuki reports 26% rise in production in September

Maruti Suzuki was up 0.94% to Rs 7,113.90 after the car major said its total production increased 25.63% to 1,66,086 units in September 2020 from 1,32,199 units produced in September 2019.

Total passenger vehicle production rose 24.11% to 161,668 units in September 2020 from 130,264 units in September 2019. Light Commercial Vehicles production surged 128% to 4,418 units in September 2020 from 1,935 units in September 2019.

The announcement was made after market hours yesterday, 7 October 2020.

The auto maker's total sales jumped 30.8% to 160,442 units in September 2020 from 122,640 units sold in September 2019. The company's total sales surged 28.74% in September 2020 from 1,24,624 units sold in August 2020. While the total domestic sales have increased by 32.2% to 152,608 units, total exports have risen by 9% to 7,834 in September 2020 over September 2019.

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

On a consolidated basis, the company posted a net loss of Rs 266.90 crore in Q1 FY21 as against net profit of Rs 1376.3 crore in Q1 FY20. Net sales slumped 80.4% to Rs 3679 crore in Q1 June 2020 over Q1 June 2019.

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