Maruti losses for the first time in the last 15 years

India's largest automobile company Maruti Suzuki has incurred a quarterly loss for the first time in the last fifteen years. The company's production and sales were badly affected by the Corona lockdown.

The company incurred a loss of Rs 2.49 billion in the quarter ending on June 30. Last year the company made a profit of Rs 14.36 billion during the same period.

During the first quarter of the financial year 2020-21, the company's sales have fallen by 80% compared to the previous year. In the first quarter of this year, the company was able to sell only 76,599 units of vehicles.

However, the company says that it had stopped production from March 22 due to the lockdown, so the sales figures are not good for comparison.