Maruti Suzuki India said its total production dropped 54.66% to 50,742 units in June 2020 from 1,11,917 units produced in June 2019.
Shares of Maruti Suzuki India were trading 0.02% lower at Rs 6,225.65 on NSE. The disclosure was made after market hours yesterday, 7 July 2020.
Total passenger vehicle production fell 54.87% to 49,476 units in June 2020 over 1,09,641 units in June 2019.
On a sequential basis, production level soared 1266% from 3,714 units produced in May 2020. Maruti Suzuki India had shut down production and office operations at its facilities in Haryana from 22 March 2020 due to COVID-19 pandemic. It restarted production at its Haryana-based Manesar plant from 12 May 2020.
In a separate announcement made during market hours yesterday, 7 July 2020, Maruti Suzuki said it has collaborated with Axis Bank to offer easy financing options for the potential car buyers. As a part of the tie-up, Axis Bank will offer attractive flexi EMI options to ease the liquidity and repayment stress of customers during these tough times.
The car major said its total sales slumped 54% to 57,428 units in June 2020 as against 124,708 units in June 2019. Total domestic sales tanked 53.7% to 53,139 units in June 2020 from 114,861 units in June 2019. Exports dropped 56.64% to 4,289 units in June 2020 from 9,847 units in June 2019.
Maruti Suzuki India's consolidated net profit fell 27.76% to Rs 1,322.20 crore on a 14.53% decline in total income to Rs 19,130.70 crore in Q4 March 2020 (Q4 FY20) over Q4 March 2019 (Q4 FY19).
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Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles).
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