Maruti Suzuki India, India’s largest carmaker, reported a smaller-than-expected quarterly profit as higher input costs and marketing spends outweighed a modest rise in sales.
Net income fell 4.4% to 37.11 billion rupees ($434 million) for the quarter ended March 31, the firm said in a filing Friday. That fell short of the average profit of 38.57 billion rupees estimated by a survey of analysts.
Revenue rose 6.4% to 406.7 billion rupees compared with the same period last year, missing estimates. Total costs advanced 8.6% to 373.3 billion rupees, with raw material costs surging almost 20%, the filing said.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.