The country's largest car maker Maruti Suzuki India (MSI) on Wednesday reported a 27.77 per cent decline in consolidated net profit at Rs 1,322.3 crore in the quarter ended March 2020, hit by lower sales volume and increase in expenses.
The company had logged a net profit of Rs 1,830.8 crore in the January-March period of 2018-19
Sharing the company's progress on resumption of production after easing of lockdown guidelines, Bhargava said, "We have started production in Manesar. We will expand production for the second line sometime next week. We hope to start in Gurgaon around 18-19th of this month."
He further said, "We have actually received a little over 5,000 and about 2,300 cars have been delivered and 1,900 workshops are functioning but loads in these workshops have become very low during the lockdown period. This business will also pick up gradually."
When asked about outlook, he said, "Markets are also very uncertain at the moment. Nobody knows how the market will behave... There are so many uncertainties at the moment that there is no point in speculating when will we get pre 2019-20 volumes."