Maruti Suzuki blames tax hikes and ride-hailing as profit sinks 39%

India's top automaker sees unclear prospects for market revival

20191024 Maruti Suzuki

Maruti Suzuki launched a new compact model at the end of September in an attempt to boost sales. (Photo by Akira Hayakawa)

KIRAN SHARMA, Nikkei staff writer

NEW DELHI -- Maruti Suzuki India, the country's top-selling carmaker, on Thursday reported a 39.4% year-on-year drop in net profit for the quarter ended September as the auto industry battled one of its worst sales slumps.

The quarterly profit of the company, which is majority-owned by Japan's Suzuki Motor, fell to 13.59 billion rupees ($190 million).

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.