Maruti Suzuki Reports Better-Than-Expected Q3 Profit On Strong Passenger Car Demand
Maruti Suzuki India Ltd reported better-than-expected quarterly profit on Tuesday, as the country's biggest carmaker benefitted from strong demand for its passenger cars.
Profit for Maruti, which has over 40% market share in the country's passenger vehicles segment, came in at 23.51 billion rupees ($288.53 million) for the quarter ended Dec. 31, compared with 10.11 billion rupees a year ago.
Analysts on average had expected the company to report a profit of 18.81 billion rupees, according to Refinitiv IBES data.
Maruti sold 465,911 vehicles in the quarter, up from 430,668 units the same quarter last year.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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