Maruti Suzuki Q3 profit rises 36%, meets estimates

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 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.