Suzuki Motor Corporation reported on Tuesday a 31.83% decline in the second-quarter operating profit. The Japanese auto major posted an operating profit at 55.90 billion yen (around ₹3,630 crore) in the second quarter ended September 30, mainly hit by slowdown in India.
The company, which operates in India through its subsidiary Maruti Suzuki India (MSI), had posted operating profit of 82 billion yen (around ₹5,330 crore) in the same period last fiscal.
Net sales in the period under review stood at 847.9 billion (around ₹55,110 crore) yen as against 941.9 billion yen (about ₹94,190 crore) in the year-ago period.
The decline in net sales were due to decrease in Japan production on restructuring of final inspection structure and decrease in Indian automobile sales driven by slowdown in the overall market, the company said in a presentation on its website.
“Slowdown since 2Q of FY2018, owing to production decrease in Japan, in addition to slowdown in Indian automobile (is) continuing from previous year,” it added.
SMC said its global sales declined 17.2% to 14.08 lakh units owing to decrease in India and Japan.
Sales in India, where MSI has nearly 50% market share, were down 26.5% at 6.75 lakh units.
In Japan, the drop was 4.6% to 3.33 lakh units. However, in Europe the company posted a growth of 7.3% at 1.49 lakh units.
