Maruti Suzuki Profit Falls 27% Due to Rising Costs
Maruti Suzuki India Ltd. reported a 27% decline in net income to 24.1 billion rupees ($253 million) for the quarter ending September, missing analyst estimates of 29.29 billion rupees. Revenue rose 26% to 533.4 billion rupees but lagged expectations. Rising raw material costs, up 48%, and a higher share of small car sales squeezed margins despite stronger vehicle demand. Investors await management's outlook on price hikes and product mix improvements amid inflation pressures.
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