Maruti Suzuki India : Third-Quarter Net Profit Rose 26%

By Kosaku Narioka

Maruti Suzuki India Ltd. said its third-quarter net profit rose 26% from a year earlier, thanks to greater revenue and better margin.

The Indian auto maker said Thursday that net profit for the quarter ended Dec. 31 rose to 19.97 billion Indian rupees ($273.3 million) from INR15.87 billion a year earlier.

On a stand-alone basis, net profit rose 24% on year to INR19.41 billion, beating the estimate of INR18.32 billion from a FactSet poll of analysts.

The group's third-quarter revenue increased 13% from a year earlier to INR234.71 billion.

Maruti Suzuki said profit rose faster than revenue due to greater capacity utilization, lower promotion expenses and other cost-reduction efforts.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

01-28-21 0428ET