From mint · · 50s
Maruti Suzuki Profit Misses Estimate
Maruti Suzuki's quarterly profit fell short of estimates as rising costs squeezed margins.
In brief
Maruti Suzuki's quarterly profit fell short of estimates as rising costs squeezed margins. Maruti Suzuki reported a 27% drop in quarterly profit to 24.1 billion rupees, missing analyst expectations due to higher input costs and a shift toward smaller vehicles. Originally reported by mint.
Profit Misses Estimate
Maruti Suzuki reported lower-than-expected quarterly profit, as rising input costs and a higher share of small car sales weighed on profitability at India’s largest carmaker.
Profit Declined 27%
Net income declined 27% to 24.1 billion rupees ($253 million) for the three months ended September, falling short of the 29.29 billion-rupee average of analyst estimates.
Costs Surged 30%
Total costs jumped 30% to 506 billion rupees, with raw material costs surging 48% from the same quarter last year.
What it means
Maruti Suzuki reported a 27% drop in quarterly profit to 24.1 billion rupees, missing analyst expectations due to higher input costs and a shift toward smaller vehicles.
