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Maruti’s Sale declined by 36% in July, highest in two Decades

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5 years ago

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Mumbai: Maruti Suzuki’s net profit for the quarter ended June 30 witnessed the steepest decline in the last five years. The continue slowdown in the economy tightened the credit norms of the financial institutions.

Domestic wholesales of country’s largest passenger vehicle decline by 36.3% year on year July to 98,210 units. This is the sharpest decline in wholesales that the company has witnessed in the last two decades. In the corresponding month last year, the company sold 154,150 units.

Domestic vehicle manufacturers are expected to report sharp decline in sales in July due to the overall slowdown and because of the high base effect of the first half of last fiscal.

For Maruti, sales in the compact segment, which includes best sellers like the Swift, Baleno, Dzire, and Wagon R, declined nearly 23%, while utility vehicle sales fell a shade above 38%. The decline in utility vehicle sales can also be attributed to the company’s announcement to withdraw its diesel offerings from April, 2020.

The company’s domestic vehicle sales fell more than 19% to 374,481 units in the June quarter, the sharpest drop since the third quarter of 2000-01. This has taken a toll on its financials as well as stock performance. The sharpest decline in last five years resulted in operating margin of 455 basis points due to increased expenses and sharp fall in volumes. Net profit fell 27.3% year-on-year to 1,435.5 crore, while the company’s net sales during the period fell 14.1% to Rs18,735.2 crore.

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Apple is giving a huge discount on its gadgets: Details inside

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2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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