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Maruti Suzuki share falls over 2% as COVID-19 spoils Q1 earnings show

Maruti Suzuki share price touched an intraday low of Rs 6120.1, falling 2.66% against the previous close of Rs 6,287 on BSE

twitter-logoBusinessToday.In | July 29, 2020 | Updated 17:28 IST
Maruti Suzuki share falls over 2% as COVID-19 spoils Q1 earnings show
Maruti Suzuki shares stand higher than 5, 20, 50 and 100-day but lower than 200-day moving averages. The large cap stock has fallen after 2 days of gain

Share price of Maruti Suzuki India (MSIL) fell in trade today after the car maker reported its first quarterly loss  since July 2003 for three months ended June 2020. Maruti said large part of the first  quarter saw zero production and zero sales in compliance with a lockdown stipulated by the government.

Maruti Suzuki share price touched an intraday low of Rs 6120.1, falling 2.66% against the previous close of Rs 6,287 on BSE. Later, it closed 1.62% or Rs 101.70 lower at Rs 6,185 on BSE.

The stock touched an intraday high of Rs 6,230 on BSE.

Maruti Suzuki shares stand higher than 5, 20, 50 and 100-day but lower than 200-day moving averages. The large cap stock has fallen after 2 days of gain

Maruti Suzuki stock has fallen 16% on a year-to-date basis but risen 11.29% in one year.

Maruti Suzuki Q1 results: Loss stands at Rs 249 crore, revenue falls 79% amid coronavirus

Total 0.72 lakh shares of the firm changed hands amounting to turnover of Rs 44.48 crore. Market cap of  the firm fell to Rs 1.86 lakh crore.

The firm reported its first ever quarterly loss since its listing on bourses in July 2003. In Q1, the firm reported consolidated loss of Rs 268.3 crore hit hard by coronavirus pandemic.

In corresponding quarter of previous fiscal, the firm reported net profit of Rs 1,376.8 crore. Net sales declined to Rs 3,679 crore in the first quarter as against Rs 18,738.8 crore in the year-ago period, MSI said in a statement.

On a standalone basis, the company reported a net loss of Rs 249.4 crore for the first quarter ended June 30.

"Owing to the global pandemic of COVID-19, it was an unprecedented quarter in the company''s history wherein a large part of the quarter had zero production and zero sales in compliance with a lockdown stipulated by the government," the firm said.

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