Country’s largest passenger car maker Maruti Suzuki India (MSIL) on Friday reported around 32 per cent decline in its consolidated net profit at ₹1,376.8 crore for the first quarter ended June 30, as compared with ₹2,015.1 crore in the corresponding period last year.

The decline in numbers are on account of lower sales volume and higher depreciation expenses, the company said in a statement.

Revenue from sale of products also declined by 14 per cent year-on-year (YoY) to ₹18,738.8 crore during the period as against ₹21,813.8 crore in April-June 2018.

Depreciation and amortisation expenses during the first quarter stood at ₹919 crore. It was ₹720.3 crore in the year-ago period.

The company sold a total of 4,02,594 vehicles during the quarter, lower by 18 per cent compared to the same period previous year. Sales in the domestic market stood at 3,74,481 units, lower by 19 per cent YoY and exports were at 28,113 units, the company added.

Shares of MSIL were trading at Rs.5,821 apiece on the BSE, up 1.05 per cent from the previous close.