Employees queue up to enter Maruti Suzuki India's Manesar plant, which resumed operations after around 40 days of closure due to the coronavirus-led lockdown, near Gurugram in Haryana. Photo: PTI
An 81 per cent dip in volumes in the June quarter (Q1) of financial year 2020-21 (FY21) saw India’s largest passenger vehicle maker, Maruti Suzuki, report its first loss since listing. It reported a loss of Rs 249 crore, compared with a net profit of Rs 1,435 crore a year ago.
Pre-tax loss came in at Rs 345 crore, compared with a profit of Rs 1,910 crore in Q1FY20. Losses would have been higher but for a 58 per cent year-on-year (YoY) jump in other income to Rs 1,318 crore.
Given that its production and sales were shut for a large part of the quarter, it sold just over 67,000 units in the quarter. Sales in the year-ago quarter and preceding
First Published: Jul 29 2020 | 7:34 PM IST