Top 10 biz headlines: Maruti Q1 plunge, Jio emerges biggest telco & more

From Vedanta's exit from Anglo American investment to Maruti Suzuki Q1 results, here are the top business headlines on Friday

1. Maruti Suzuki net profit plunges 27% to Rs 1,435 crore in Q1; outlook grim

Maruti Suzuki India, the country’s largest carmaker, on Friday posted a 27.3 per cent drop in net profit for the April-June quarter amid an industry-wide slowdown in demand, even as it beat analysts’ estimates. The company reported a net profit of Rs 1,435 crore in Q1FY20, compared to Rs 1,975 crore in the year-ago period.

The decline in consumer interest is manifested in Maruti’s balance sheet — net sales in the first quarter fell 14.1 per cent to Rs 18,735.2 crore, compared with Rs 21,810.7