Maruti Suzuki’s third fiscal quarter sales rose 12.4% to 323,911 vehicles. Exports grew 43.8% to 28,709 units. But the company missed analysts’ profit expectations.
The sales were worth INR122,631m (US$1.99bn), a growth of 15.5% year on year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Net profit in Q3 (2014-15) was INR8,022m ($133m), up 17.8 % year on year.
Analysts had on average expected the company to make INR9,006m, according to Thomson Reuters.
“Higher volumes, material cost reduction initiatives and favourable foreign exchange contributed to [the] bottom line during the quarter,” Maruti said in a statement.
For the nine months (April-December), unit volume rose 13.9% to 945,703 vehicles with exports up 22.8% to 92,171 cars.
Sales rose 14.6% to INR353,330m ($5.7bn) and net profit was up 22.4% to INR24,270m ($395m).
