Maruti Suzuki India Swings to First-Quarter Net Profit

By Justina Lee

Maruti Suzuki India Ltd. swung to a net profit in its first quarter, supported by higher net sales.

The Indian auto maker said Wednesday that it posted a net profit of 4.75 billion rupees ($63.7 million) for the quarter ended June, compared with a net loss of INR2.67 billion a year earlier.

"While all parameters this quarter were substantially better than Q1 of FY2020-21, a comparison is not meaningful because Q1 last year had a much higher degree of disruption due to the pandemic," the automotive maker said.

It adds that first-quarter sales have remained far below the previous high in the first quarter of fiscal year 2019.

Write to Justina Lee at [e-mail]

(END) Dow Jones Newswires

07-28-21 0636ET