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Maruti Suzuki India Q2 profit misses estimates as costs rise
Maruti Suzuki’s Q2 profit grew but missed expectations as margins came under pressure from costs and declining domestic volumes.
India’s largest automaker Maruti Suzuki India Ltd announced a July-September profit of ₹32.9 billion (~USD 374 million), up 7.3 % y/y but below expectations of ₹35.9 billion. Operating margin fell to 8.5 % from 10.3 % a year ago, due to rising commodity prices, higher promotions and expenses tied to a new plant planned in Gujarat. Domestic sales declined 5.1 % while exports jumped 42.2 %. The earnings miss prompted shares to dip in early trading.