Maruti Suzuki skids 9% on disappointing Q3 results; stock hits 21-month low

The stock dipped 9 per cent to Rs 6,420, its lowest level since April 28, 2017, after reported 17.2 per cent year-on-year decline in net profit at Rs 1,489 crore in December quarter.

Shares of Maruti Suzuki India slipped 9 per cent to Rs 6,420 on the BSE, hitting their 21-month low in intra-day trade on Friday, after the company reported 17.2 per cent year-on-year (YoY) decline in net profit at Rs 1,489 crore in December quarter (Q3FY19). 

Net sales during the quarter under review remained flat at Rs 18,926 crore over the previous year quarter. The stock was trading at its lowest level since April 28, 2017. Analysts on an average had expected profit of Rs 1,604 crore on net sales of Rs 19,596 crore for the quarter.

The company said