Maruti Suzuki announced its second-quarter results on Tuesday afternoon.

What Happened: India’s market leader in four-wheelers reported a 17.41% decrease in standalone net profit to ₹3069.2 crore in the September quarter. The automaker’s revenue came in at ₹37,202.8 crore, up 0.37% from the previous year. The numbers missed the analyst estimates of ₹3,796.18 crore net profit while ₹37,102.56 crore revenue was met.

In the September quarter of the previous year, the company reported a net profit of ₹3716.5 crore and revenue was at ₹37,062.1 crore.

The company also announced the amalgamation of Suzuki Motor Gujarat Private Ltd, a wholly-owned subsidiary of the Company.

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In September auto numbers, Maruti Suzuki's total sales were up 1.86% to 1.85 lakh units compared to 1.81 lakh units in the previous year.

The company had also reduced prices of Alto K10 and S-Presso models in September after August sales declined by 4% to 1.81 lakh units.

Price Action: Shares of Maruti Suzuki were down 4.03% to ₹11,020.15 on Tuesday afternoon after the results.

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