New Delhi:The country's largest car maker Maruti Suzuki India (MSI) on Wednesday reported a 27.77 per cent decline in consolidated net profit to Rs 1,322.3 crore for the fourth quarter of 2019-20, on account of lower sales volume, higher promotion expenses and depreciation expenses.
The company had posted a net profit of Rs 1,830.8 crore in the January-March period of 2018-19, MSI said in a statement.
Net sales during the quarter declined to Rs 18,207.7 crore, down 15.2 per cent from Rs 21,473.1 crore in the year-ago period.
Total car sales during the fourth quarter declined by 16 per cent to 3,85,025 units as compared to the same period of 2018-19.
For the entire 2019-20 fiscal, MSI posted a net profit of Rs 5,677.6 crore, down 25.78 per cent from Rs 7,650.6 crore in the 2018-19.
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