Maruti Suzuki reports worst domestic sales drop in 18 years

UPDATED ON FEB 26, 2020 12:19 PM IST
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Maruti Suzuki reported its worst drop in domestic sales in 18 years. The company's June quarter sales dropped 19%. It was the worst reported since 2001-01. Maruti's stock was down 25.5% this year, fell 23.3% last year. The drop was triggered by weak demand, regulatory changes and more competition. Automobile sector has been battling a spiralling 10-month slowdown. Several brokerages have downgraded Maruti Suzuki's shares.

Maruti Suzuki's June quarter net profit is down 27% from last year which is its steepest decline in the last five years.

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