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Maruti Suzuki First-Quarter Profit Up 4%, Misses Estimates
Highlights
Maruti Suzuki India Ltd, the country\'s top-selling car maker, posted a 4.4 percent rise in quarterly profit on Thursday, but missed estimates as a rise in commodity prices and the impact of a new nationwide sales tax ate into earnings.
Maruti Suzuki India Ltd, the country's top-selling car maker, posted a 4.4 percent rise in quarterly profit on Thursday, but missed estimates as a rise in commodity prices and the impact of a new nationwide sales tax ate into earnings.
The company, majority-owned by Japan's Suzuki Motor Corp, said it posted a profit of Rs. 1,556 crore for the first quarter ended June 30, compared with Rs. 1,491 crore a year earlier.
Analysts on average had expected a profit of Rs. 1,701 crore, according to Thomson Reuters data.Total income of Maruti rose 17 percent to Rs. 20,460 crore. The company sold a total of 394,571 vehicles during the quarter, up 13.2 percent from the year-ago period.
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