Maruti Suzuki Reports Rs 249 Crore Loss In June Quarter

Maruti Suzuki India, the country's largest carmaker by market share, on Wednesday reported a net loss of Rs 249.4 crore for the quarter ended June 30. A nationwide lockdown to curb the spread of COVID-19 during the quarter hurt sales at the country's top-selling carmaker. The company, which had posted a profit of Rs 1,435.5 crore for the corresponding period a year ago, said the net loss was partially offset by lower operating expenses and higher fair-value gain on the invested surplus.

In a regulatory filing during market hours, Maruti Suzuki said its product sales came in at Rs 3,677.5 crore in the April-June period, marking a decline of 80.37 per cent compared to the corresponding period a year ago.

At 2:16 pm, Maruti Suzuki shares traded 2.31 per cent lower at Rs 6142 apiece on the BSE, underperforming the benchmark S&P BSE Sensex index which was down 0.98 per cent amid volatile trade.