Maruti Suzuki slides after weak MoM sales in December

Maruti Suzuki India reported 11.5% decline in total auto sales to 1.33 lakh units in December 2019 compared with 1.50 lakh units in November 2018.

Total sales, however, rose 3.9% last month compared with 1.28 lakh units in December 2018. Total domestic sales rose 3.5% to 1.25 lakh units while total exports sales jumped 10.2% to 7,561 units in December 2019 over December 2018.

Shares of Maruti Suzuki India were trading 0.58% lower at Rs 7324.75. The stock fell as much as 0.91% to hit an intraday low of Rs 7,300.

On a consolidated basis, Maruti Suzuki's net profit fell 39% to Rs 1,390.60 crore on 25.2% decline in net sales to Rs 16,123.20 crore in Q2 September 2019 over Q2 September 2018.

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

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