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Business News/ Videos / Maruti Suzuki reports worst domestic sales drop in 18 years

Maruti Suzuki reports worst domestic sales drop in 18 years

Maruti Suzuki reported its worst drop in domestic sales in 18 years. The company's June quarter sales dropped 19%. It was the worst reported since 2001-01. Maruti's stock was down 25.5% this year, fell 23.3% last year. The drop was triggered by weak demand, regulatory changes and more competition. The automobile sector has been battling a spiraling 10-month slowdown. Several brokerages have downgraded Maruti Suzuki's shares. Maruti Suzuki's June quarter net profit is down 27% from last year which is its steepest decline in the last five years.

 
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