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India's top carmaker Maruti Suzuki reports first-quarter profit

Maruti Suzuki India Ltd reported a profit for the first quarter on Wednesday, as the country's largest carmaker benefited from pandemic-fueled demand for personal vehicles.

India's top carmaker Maruti Suzuki reports first-quarter profit

FILE PHOTO: Corporate office of Maruti Suzuki India Limited is pictured in New Delhi, India, February 26, 2016. REUTERS/Anindito Mukherjee/File Photo

BENGALURU: Maruti Suzuki India Ltd reported a profit for the first quarter on Wednesday, as the country's largest carmaker benefited from pandemic-fueled demand for personal vehicles.

The company posted a profit of 4.41 billion rupees (US$59.28 million) for the three months ended June 30, compared with a loss of 2.49 billion rupees a year earlier.

The New Delhi-headquartered company reported a first-quarter loss a year ago due to COVID-19 curbs that brought economic activity to a virtual standstill.

(US$1 = 74.3900 Indian rupees)

(Reporting by Chandini Monnappa in Bengaluru; editing by Vinay Dwivedi and Aditya Soni)

Source: Reuters

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