Maruti Suzuki net reduces to 9.8 percent on rising oil prices

Posted on:26 Oct 2018 13:45:38
Maruti Suzuki net reduces to 9.8 percent on rising oil prices
26 October 2018 Current Affairs:

Maruti Suzuki Chairman R.C. Bhargava said that the overall demand for cars, festival demand, in particular, has taken a hit due to rising oil prices and the new regulations on insurance. While announcing the company’s Q2 financial results he said Maruti Suzuki saw the number of vehicles it sold in Q2 fall by 1.5% to 4,84,848 compared with the same period of the previous year, and net profit falls 9.8% to Rs. 2,240.4 crore over the same period. Over the first half of the financial year (April to September), the company saw its net profit grow 4.3% to Rs. 4,215.7 crore and a 10% increase in the number of vehicles it sold.
 

Maruti Suzuki Chairman R.C. Bhargava said that the overall demand for cars, festival demand, in particular, has taken a hit due to rising oil prices and the new regulations on insurance. While announcing the company’s Q2 financial results he said Maruti Suzuki saw the number of vehicles it sold in Q2 fall by 1.5% to 4,84,848 compared with the same period of the previous year, and net profit falls 9.8% to Rs. 2,240.4 crore over the same period. Over the first half of the financial year (April to September), the company saw its net profit grow 4.3% to Rs. 4,215.7 crore and a 10% increase in the number of vehicles it sold.
 




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