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₹1,292 crore on subdued sales

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NEW DELHI: Maruti Suzuki India Ltd on Wednesday reported a 28% year-on-year decline in its net profit for January-March (Q4) largely because of tepid demand for its cars exacerbated by a nationwide lockdown to contain the spread of vovid-19.

The country's largest passenger vehicle manufacturer net profit was at ₹1,291.7 crore compared with ₹1795.6 crore in the year-ago quarter.

The company's net sales during the quarter declined 17.1% to ₹171,86.7 crore - a result of 16% decline in total vehicle sales during the quarter to 3,85,025 units.

Operating profit during the period fell 31.7% to ₹1,546 crore crore while margins contracted 200 basis points to 8.5% due to increase in overall expenses.

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