Maruti Suzuki has reported a net loss of Rs 249 crore, against the net profit of Rs 1,435 crore in the previous year. However, it still managed to cross the estimates made by ICICI Securities, which pegged a net loss of Rs 380 crore.
The company has sent in a regulatory filing that the quarter was unprecedented as the total production in the whole April-June quarter was equivalent to just the production of two weeks only. Due to the nation lockdown in April, the company was not able to manufacture or sell vehicles but then also, it has witnessed a significant number of enquiries online and, plans to offer buyers with fully digitised financing options.
Revenue from operations dropped by 79% to Rs 4,106.5 crore during the April-June quarter FY21, as compared to Rs 19,720 crore in the same quarter previous year. Net declines in sales is 80% to Rs 3,677.5 crore, against Rs 18,735.2 crore in the year-ago period. During the April-June quarter, the company has sold a total of 76,599 vehicles which includes a sale of 67,027 units in the domestic market and the remaining 9,572 sales come from exports.
Auto sales have been impacted due to the lockdown imposed in the country on 25, March and relaxation were given where possible, to prevent the spread of coronavirus infection which has resulted in disruptions in the economic activities. He said the company is following the ‘always-on’ approach for campaigns across all the channels and also focusing on a connected digital CRM (Customer Relationship Management) experience.

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