india\s maruti q1 profits fall 23
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

India's Maruti Q1 profits fall 23%

Arab Today, arab today

Arab Today, arab today India's Maruti Q1 profits fall 23%

New Delhi - QNA

India's biggest carmaker Maruti Suzuki Saturday reported a 23 % plunge in quarterly profit, missing market forecasts as the company struggles to recover from deadly labour unrest. Maruti said net profit fell to 4.24 billion rupees (US$76.6 million) in the three months to June from 5.49 billion rupees a year earlier, marking its fourth straight quarterly profit fall. Analysts expected Maruti, 54.2 % owned by Japan's Suzuki Motor, to post a net profit of 5.0 billion rupees. "The growth in net sales was on account of higher total volumes, favorable product mix and enhanced exports realizations. Market demand continued to be skewed in favor of diesel cars while petrol cars suffered a sharp de-growth during the quarter," the company said in a statement. The price of importing components and technology from Japan has shot up due a slide in the value of the Indian rupee against foreign currencies. The disappointing results come as Maruti strives to recover from the worst-ever labour unrest in the company's history on July 18 that left a manager dead and nearly 100 other executives hurt at one of its main plants. The figures released Saturday were for the period up to June and did not reflect the unrest that has forced Maruti to indefinitely shut down the Manesar plant. Maruti, which is battling fierce competition from South Korea's Hyundai and other rivals, said on Friday it did not know when it could reopen the riot-hit plant that makes 550,000 vehicles a year -- 40 % of output. A protracted closure of the Manesar plant would be a major setback for Maruti, whose profits slid 29 % last year on the back of labour disputes over pay and union recognition.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india\s maruti q1 profits fall 23 india\s maruti q1 profits fall 23

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india\s maruti q1 profits fall 23 india\s maruti q1 profits fall 23

 



GMT 03:07 2017 Wednesday ,25 January

Health care veterans, pioneers awarded

GMT 05:44 2017 Saturday ,11 November

Business as usual as Hamilton dominates Brazil practice

GMT 11:08 2018 Thursday ,25 October

Russia to be at very high level at conference on Libya

GMT 15:00 2012 Saturday ,21 April

Nelly Karim: Egypt akin to \'Hiya Fawda\'

GMT 03:02 2018 Saturday ,20 January

Egypt's President Sisi says will stand for re-election

GMT 00:51 2017 Tuesday ,24 October

HH the Emir Meets Foreign Minister of Kuwait

GMT 05:42 2017 Saturday ,02 September

64 dead in clashes in Raqa province

GMT 00:08 2017 Sunday ,05 March

Desperate migrants escape Libya 'hell'

GMT 19:24 2016 Saturday ,12 November

Israeli air forces attack Syrian position in Qunaitera
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday