India’s largest car maker, Maruti Suzuki India Ltd announced periodical earnings dropped 54.3%, weak forecasts due to high resources costs, lower volumes and poor brunt of currency changes.
Maruti declared today net gain dipped to Rs.214 crore in its economic third quarter closed in December.
Net sales dropped 2.8%.
That in line with a net gain predict of Rs.248 crore on net sales of Rs.4,322 crore in a Reuters survey.
Maruti, which is 54.2% owned by Japan’s Suzuki Motor Corp, holds nearly half the Indian car market with models such as the best-selling Swift and Alto hatchbacks.
Maruti’s shares, valued at $3.2 billion, dropped 24.3% in the last quarter in line with the main indices.