Maruti Suzuki India Ltd, India's biggest carmaker, reported a 36% rise in third-quarter net profit, matching estimates, as favourable foreign exchange movement and cost reduction efforts offset falling sales.
Maruti, controlled by Japan's Suzuki Motor Corp, said profit for the October-Decemeber quarter was Rs. 6.81 billion ($108 million), up from Rs. 5.01 billion in the same quarter of 2013.
Sales fell about 3% to Rs. 106.2 billion rupees. Analysts had expected the company to post a profit of Rs. 6.84 billion, according to Thomson Reuters.
Courtesy:Hindustan Times
Maruti, controlled by Japan's Suzuki Motor Corp, said profit for the October-Decemeber quarter was Rs. 6.81 billion ($108 million), up from Rs. 5.01 billion in the same quarter of 2013.
Sales fell about 3% to Rs. 106.2 billion rupees. Analysts had expected the company to post a profit of Rs. 6.84 billion, according to Thomson Reuters.
Courtesy:Hindustan Times
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