July 26, 2019 / 8:14 AM / 25 days ago

Maruti Suzuki India June-quarter profit dips on weak demand

BENGALURU, July 26 (Reuters) - Maruti Suzuki India Ltd posted a 27.3% fall in first-quarter net profit on Friday, hurt by industry-wide weak demand as the country’s economy struggles to pick up pace.

The country’s biggest automaker by market value said it sold 402,594 vehicles in the three months ended June 30, down nearly 18% from a year earlier.

The company, majority owned by Japan’s Suzuki Motor Corp , earned 14.36 billion rupees ($208.04 million), compared with 19.75 billion rupees a year earlier.

Revenue from operations fell 12.2% to 197.20 billion rupees.

$1 = 69.0250 Indian rupees Reporting by Chandini Monnappa in Bengaluru; editing by Uttaresh.V

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