By Justina Lee
Maruti Suzuki India Ltd. swung to a net profit in its first quarter, supported by higher net sales.
The Indian auto maker said Wednesday that it posted a net profit of 4.75 billion rupees ($63.7 million) for the quarter ended June, compared with a net loss of INR2.67 billion a year earlier.
"While all parameters this quarter were substantially better than Q1 of FY2020-21, a comparison is not meaningful because Q1 last year had a much higher degree of disruption due to the pandemic," the automotive maker said.
It adds that first-quarter sales have remained far below the previous high in the first quarter of fiscal year 2019.
Write to Justina Lee at email@example.com
(END) Dow Jones Newswires
July 28, 2021 06:36 ET (10:36 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.