India's largest passenger car maker Maruti Suzuki's second quarter net profit slumped 60% year-on-year to lower-than-expected Rs 240.44 crore on the back of labour strike at its Manesar plant and slowdown in auto sales.
Net sales for the July-September quarter slipped 16% from a year ago to Rs 7,537.45 crore. Its EBITDA margin was at 6.6% and operating margin was at 3% in this quarter. Ajay Seth, chief financial officer, Maruti Suzuki speaking to CNBC-TV18 about the dismal financial performance of the company said, "We are not at all happy with this situation. We will surely like to better EBITDA and be at least in double digit." Below is the edited transcript of SethDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
