Maruti Suzuki posts 9.8% decline in profit

India’s top-selling car maker, Maruti Suzuki India Ltd, posted a 9.8 percent fall in second-quarter net profit on Thursday, hurt by rising commodity prices and a weaker rupee.

India’s top-selling car maker, Maruti Suzuki India Ltd, posted a 9.8 percent fall in second-quarter net profit on Thursday, hurt by rising commodity prices and a weaker rupee. Net profit fell to 22.40 billion rupees ($305.73 million) for the quarter ended Sept. 30, versus 24.84 billion rupees a year earlier.

Maruti’s net profit fell to Rs 22.40 billion for the quarter ended September 30, versus Rs 24.84 billion a year earlier. (Picture for representation)

Twenty one analysts on average had expected the company, which is majority-owned by Japan’s Suzuki Motor Corp, to post a profit of 20.28 billion rupees, according to Refinitiv data. Total revenue from operations rose 3 percent to 224.33 billion rupees.