Maruti Suzuki Q2 profit dips 39% YoY to Rs 1,359 crore, revenue slips 24%

The EBITDA came in at Rs 1,606.3 crore, down 53.2 per cent YoY.

India’s largest car maker Maruti Suzuki on Thursday reported a net profit of Rs 1,358.6 crore for the September quarter of FY20, down 39.4 per cent YoY from Rs 2,240.4 crore reported in Q2FY19.
 

The profit, however, beat analysts estimates. Analysts at Prabhudas Lilladher, for instance, had pegged the profit at Rs 1,100 crore.
 

Net profit for the quarter declined by 39.4 per cent compared to the same period previous on account of lower sales volume, higher sales promotion expenses and higher depreciation expenses, partially offset by cost reduction efforts, higher fair value gains on invested surplus and reduction in