Maruti Suzuki Q2 net profit slips 5%; gives all-time high discounts
There is not much demand for Maruti Suzuki’s petrol cars and it cannot produce enough diesel cars that are selling like hot cars, which has affected its bottomline
New Delhi: Maruti Suzuki India Ltd (MSI), the country’s largest car maker on Tuesday reported 5.41% decline in its net profit to Rs227.45 crore for the quarter ended 30th September due to lower sales, mainly of petrol models, reports PTI.
The average discounts on the models, especially petrol run, were all-time high during the July-September quarter.
The company had posted a net profit of Rs240.45 crore in the corresponding period last year, Maruti Suzuki India (MSI) said in a statement.
The net sales during the second quarter of this fiscal, however, went up by 8.5% to Rs8,070.11 crore, from Rs7,435.85 crore in the year-ago period, it added. For more visit: Moneylife.in
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