Maruti posts Rs 268 crore net loss in Q1; first time in red since 2003 in wake of COVID-19 pandemic
New Delhi: The nation’s largest carmaker Maruti Suzuki India on Wednesday reported first ever quarterly loss since changing into public 17 years again with a consolidated web lack of Rs 268.Three crore for the primary quarter ended June 30, hit exhausting by coronavirus pandemic.
The auto main, which bought listed means again in July 2003, had posted a consolidated web revenue of Rs 1,376.eight crore within the April-June quarter of 2019-20.
Net gross sales declined to Rs 3,679 crore within the first quarter as in opposition to Rs 18,738.eight crore within the year-ago interval, MSI mentioned in an announcement.
On a standalone foundation, the corporate reported a web lack of Rs 249.Four crore for the primary quarter ended June 30.
It had posted web revenue of Rs 1,435.5 crore on standalone foundation in April-June of 2019-20.
The auto main’s web gross sales throughout the interval underneath evaluation declined to Rs 3,677.5 crore, as in comparison with Rs 18,735.2 crore within the year-ago interval.
During the primary quarter, MSI bought a complete of 76,599 autos. Sales within the home market stood at 67,027 models, whereas exports have been at 9,572 models.
The firm had bought 4,02,594 models within the first quarter earlier fiscal.
“Owing to the global pandemic of COVID-19, it was an unprecedented quarter in the company’s history wherein a large part of the quarter had zero production and zero sales in compliance with a lockdown stipulated by the government,” MSI mentioned.
Production and gross sales began in a really small means in May, it added.
The firm’s first precedence was well being, security and wellbeing of all workers and associates throughout the worth chain, together with its clients, the auto main mentioned.
“Hence, with carefully designed safety protocols, which went far beyond compliance levels, the production in the whole Quarter was equivalent to just about two weeks’ of regular working. The results have to be viewed in this context,” it famous.
MSI inventory ended 1.62 per cent down at Rs 6,185.6 on the BSE on Wednesday.
$(function() { return $("[data-sticky_column]").stick_in_parent({ parent: "[data-sticky_parent]" }); });
reset_scroll = function() { var scroller; scroller = $("body,html"); scroller.stop(true); if ($(window).scrollTop() !== 0) { scroller.animate({ scrollTop: 0 }, "fast"); } return scroller; };
window.scroll_it = function() { var max; max = $(document).height() - $(window).height(); return reset_scroll().animate({ scrollTop: max }, max * 3).delay(100).animate({ scrollTop: 0 }, max * 3); };
window.scroll_it_wobble = function() { var max, third; max = $(document).height() - $(window).height(); third = Math.floor(max / 3); return reset_scroll().animate({ scrollTop: third * 2 }, max * 3).delay(100).animate({ scrollTop: third }, max * 3).delay(100).animate({ scrollTop: max }, max * 3).delay(100).animate({ scrollTop: 0 }, max * 3); };
$(window).on("resize", (function(_this) { return function(e) { return $(document.body).trigger("sticky_kit:recalc"); }; })(this));
}).call(this);
} on_load_google_ad(); function sendAdserverRequest() { try { if (pbjs && pbjs.adserverRequestSent) return; googletag.cmd.push(function() { googletag.pubads().refresh(); }); } catch (e) {
googletag.cmd.push(function() { googletag.pubads().refresh(); }); } } setTimeout(function() { sendAdserverRequest(); }, 5000);
function on_load_fb_twitter_widgets(){ (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.9"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));
window.twttr = (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0], t = window.twttr || {}; if (d.getElementById(id)) return t; js = d.createElement(s); js.id = id; js.src = "https://platform.twitter.com/widgets.js"; fjs.parentNode.insertBefore(js, fjs); t._e = []; t.ready = function(f) {
t._e.push(f); }; return t; }(document, "script", "twitter-wjs")); }
//setTimeout(function() { on_load_google_ad(); }, 5000); setTimeout(function() { on_load_fb_twitter_widgets(); }, 5000);
Source