Maruti Suzuki India (MSIL) on Tuesday reported an 18.1 per cent year-on-year decline in its consolidated net profit for the second quarter (Q2) of FY25 at ₹3,102.5 crore.
The profit figure was below the Street estimates of ₹3,525 crore.
The fall in profit was due to deferred tax taken into account after the removal of indexation benefits on long-term capital gains of debt mutual funds, a continued decline in demand for small cars, and reduced sales in urban areas.
"The automobile industry is having a somewhat difficult time this year. The growth of the industry has been slower than what has been in the past and this is despite the fact that there are no shortages of semiconductors or impact of Covid-19. It is just that the demand for cars has slowed down," MSIL Chairman RC Bhargava said in a press conference.
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