Maruti Suzuki reports sharp dip in Q3 earnings
New Delhi, Jan 25 : Car manufacturer Maruti Suzuki on Friday reported a net profit of Rs 1,489 crore during the third quarter ending December 2018, down 17.2 per cent as compared to Rs 1,799 crore in the last corresponding quarter.
The company reported sales of 428,643 vehicles in Q3 of 2018, marking a marginal decline of 0.6 per cent over the same period last year, the company said in a statement.
Maruti Suzuki recently announced a price hike of up to Rs 10,000 for select models to offset the adverse impact of foreign exchange rates and an increase in commodity prices.
Its shares crashed nearly 9 per cent in intra-day trading and closed at Rs 6,516.35 on Friday.