Maruti Suzuki reports net loss of Rs 249 crore in Q1 as Covid-19 takes toll

The company posted a pre-tax loss of Rs 370 crore, as compared with a profit of Rs 1,853 crore in the year-ago quarter

Maruti Suzuki India reported a quarterly loss for the first time since its listing in 2003, as the coronavirus lockdown and supply chain disruptions sapped demand for the country's biggest automaker.

The pandemic has taken a heavy toll on automakers globally as people choose to stay indoors and worsened problems for Indian carmakers, which were already seeing inventory pile up because of weak demand. Maruti's shares fell as much as 2.5 per cent as it reported a net loss of Rs 249 crore for the three months ended June 30, compared with a profit of Rs 1,436 crore a year ago