October 24, 2019 / 8:06 AM / 20 days ago

Maruti Suzuki India Sept-quarter profit sinks over 39%

BENGALURU, Oct 24 (Reuters) - Maruti Suzuki India Ltd said on Thursday its net profit for the second quarter fell over 39% from a year ago, amid a sluggish economy that has hit demand across sectors.

The country’s largest carmaker by market value reported a net profit of 13.59 billion rupees ($191.46 million) for the three months ended Sept. 30, compared with 22.40 billion rupees during the same period last year.

Revenue from operations fell 24.3% to 169.85 billion rupees, the company — majority owned by Japan’s Suzuki Motor Corp — said in a filing to the exchanges.

It sold 338,317 vehicles during the September quarter, down 30.2% from a year earlier. ($1 = 70.9800 Indian rupees) (Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu)

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