Maruti Suzuki posts 1st quarterly consolidated loss in 17 yrs at Rs 268 cr

The company sold 76,599 vehicles in Q1FY21, down 81 per cent from 4,02,600 units sold in Q1FY20

Auto major Maruti Suzuki on Wednesday reported a consolidated loss of Rs 268.3 crore for the June quarter of FY21 (Q1FY21) as compared to profit of Rs 1,376.8 crore reported in the corresponding quarter last year.

This was the company's first quarterly loss since becoming public 17 years ago. The numbers, according to the company, were 'adversely impacted' by the outbreak of Covid-19 pandemic and the consequent lockdown announced to contain its spread. Although, the company's losses were partially off-set by lower operating expenses and higher fair-value gain on the invested surplus. 

Maruti's revenue also dipped 78.67 per cent on