Maruti reports first quarterly loss since 2003

The country’s largest carmaker Maruti Suzuki India reported its first ever quarterly loss since becoming public 17 years back with a consolidated net loss of Rs 268.3 crore for the first quarter ended June 30, hit hard by the coronavirus pandemic.

The auto major, which got listed way back in July 2003, had posted a consolidated net profit of Rs 1,376.8 crore in the April-June quarter of 2019-20.

Net sales declined to Rs 3,679 crore in the first quarter as against Rs 18,738.8 crore in the year-ago period, MSI said in a statement.

On a standalone basis, the company reported a net loss of Rs 249.4 crore for the first quarter ended June 30. It had posted net profit of Rs 1,435.5 crore on standalone basis in April-June of 2019-20.

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India, Zimbabwe ink pact to promote traditional medicine

The Union Cabinet gave ex-post facto approval to an agreement between India and Zimbabwe on cooperation in the field of traditional systems of medicine and homeopathy. 

The MoU, which was signed on November 3, 2018, aims to provide a framework for cooperation between the two countries for the promotion of traditional systems of medicine and homeopathy and will mutually benefit both nations in the field of traditional medicine. 

The areas of cooperation identified by the MoU include promotion in the regulation of teaching, practice, drugs and drugless therapies, supply of all medicine materials and documents necessary for demonstration and reference in achieving the objectives and exchange of experts for the training of practitioners, paramedics, scientists, teaching professionals and students among others.

The main objective of the MoU is to strengthen, promote and develop co-operation in traditional medicine systems between the two countries on the basis of equality and mutual benefit.

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