The company's net sales decreased by 17.4% to Rs 7,663.6 crore, earlier it had reported Rs 9,276.73 crore in the year-ago period, it added.
"Sales in the quarter were impacted by sluggish market conditions caused by higher fuel prices and interest rates," the company said in the statement.
"Unit sales in the Quarter were impacted by sluggish market conditions caused by higher fuel prices and interest rates. Additionally, the company lost around 40,000 units in production due to the industrial relations problem at Manesar," the company said.
The depreciation of the rupee during the Quarter adversely impacted the bottom-line through higher cost of imports for the company and its vendors and royalty, further added.
However, the shares of the company were trading higher despite of downswing of Q3 results, shares were up by 63.45 points or 5.77% at Rs 1,162.55.