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Maruti Suzuki Q2 net profit drops 10% to Rs 22.40 bn, first in over 2 years

Sales revenue of Rs 215.51 billion for the quarter was marginally higher by 0.50 per cent over corresponding quarter of last year

Maruti Suzuki
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Firm commodity prices, a slowdown in sales, and a double-digit increase in discounts pulled down the profit of Maruti Suzuki by 10 per cent in the quarter ended September 30. The country’s biggest car maker reported a profit of Rs 22.40 billion for the quarter against Rs 24.84 billion a year ago. This is the first decline in the company’s profit after nine consecutive quarters of profit growth.  Sales revenue of Rs 215.51 billion for the September quarter was marginally higher by 0.50 per cent over the corresponding quarter of last year. The company, which has a ...