Maruti Suzuki Reports 28% Decline In Fourth Quarter Profit

Auto major Maruti Suzuki on Wednesday reported a 28 percent decline in its profits in the fourth quarter as an already sluggish automobile market faced further distress due to the nationwide lockdown imposed to arrest the spread of coronavirus. The company's net profit fell to Rs 1,292 crore  for the three months ended March 31, compared with Rs 1,796 crore a year earlier.

Revenue from operations fell 15 percent to Rs 18,198 crore, said the company, which is India's top-selling carmaker.

The company's shares reacted negatively to the March-quarter results, as it shed much of its gains made in the morning session. The stock ended the day at Rs 5,035.25, or 1.72 percent higher than the previous closing mark. In comparison, the stock was trading 5 percent in the green, in Wednesday's early trade.