Business Today
Loading...

Coronavirus lockdown 4.0: Maruti Suzuki to restart production at Gurugram plant

Maruti Suzuki India on March 23 had halted production of vehicles at its various plants as a precaution against the spread of life-threatening coronavirus

twitter-logoBusinessToday.In | May 18, 2020 | Updated 13:08 IST
Coronavirus lockdown 4.0: Maruti Suzuki to restart production at Gurugram plant
India has been under lockdown since March 25

Maruti Suzuki India will resume production at its Gurugram plant on Monday. It comes days after the largest automaker in the country restarted operations at the Manesar plant on May 12. "Maruti Suzuki will restart production of vehicles at its Gurgaon plant from 18 May 2020. All activity will be carried out strictly in accordance with the government regulations and guidelines and observing the company's own concern for the highest standards of safety," Maruti Suzuki India said in an exchange filing on Sunday.

The Ministry of Home Affairs (MHA) on Sunday extended the nationwide coronavirus lockdown until May 31. Maruti Suzuki India on March 23 had halted production of vehicles at its various plants as a precaution against the spread of life-threatening coronavirus. The production and operations at its facilities in Gurugram and Manesar, Haryana were shut down by the company.

On May 13, Maruti Suzuki India reported a profit of Rs 1,291.7 crore in the March quarter, down by 28.1 percent compared to corresponding quarter of last year. The profit fell on account of lower sales during the lockdown.  The company had reported a profit of Rs 1,795.6 crore in the same quarter of previous year.

Meanwhile, India's export sector could lose nearly 15 million jobs amid the lockdown, the Federation of Indian Export Organisations (FIEO) had recently told the government.

With the cancellation of 50 per cent of the export orders, the sector is also expecting a rise in non-performing assets (NPAs), Sharad Kumar Saraf, President, FIEO had also said.

Also read: India's GDP to contract 45% in June quarter, stimulus package 'strikingly smaller': Goldman Sachs

Also read: Coronavirus lockdown 4.0: What activities will be allowed in red zones from today?

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close