Maruti Suzuki Profit Misses Estimate as Costs Squeeze Margins
New Delhi, Oct. 27 -- Maruti Suzuki India Ltd. reported lower-than-expected quarterly profit, as rising input costs and a higher share of small car sales weighed on profitability at India's largest carmaker.
Net income declined 27% to 24.1 billion rupees ($253 million) for the three months ended September, according to an exchange filing Tuesday. That fell short of the 29.29 billion-rupee average of analyst estimates compiled by Bloomberg.
Revenue at the Indian unit of Suzuki Motor Corp. rose 26% to 533.4 billion rupees during the period but also trailed estimates. Total costs jumped 30% to 506 billion rupees, with raw material costs surging 48% from the same quarter last year.
The result suggests that pressure from raw-material costs,...
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