Maruti Udyog Ltd. reported a rise in line with forecasts in quarterly net profit as demand for its fuel-efficient small cars outpaced rising raw material costs in a booming market.
New Delhi-based Maruti, majority-owned by Japan's Suzuki Motor Corp., said July-September net profit rose to 3.67 billion rupees ($81.1 million) from 2.63 billion rupees a year earlier, marginally ahead of a forecast of 3.62 billion rupees in a Reuters poll of 10 analysts.
Maruti's sales, including the popular Zen, Alto and Swift models, rose 12.2 percent to 157,683 units in the July-September fiscal second quarter. April-June sales were 144,948 vehicles.
Maruti shares, valued at $6 billion, gained 23 percent in July-September, outpacing a 12.9 percent gain on the BSE auto index.
New Delhi-based Maruti, majority-owned by Japan's Suzuki Motor Corp., said July-September net profit rose to 3.67 billion rupees ($81.1 million) from 2.63 billion rupees a year earlier, marginally ahead of a forecast of 3.62 billion rupees in a Reuters poll of 10 analysts.
Maruti's sales, including the popular Zen, Alto and Swift models, rose 12.2 percent to 157,683 units in the July-September fiscal second quarter. April-June sales were 144,948 vehicles.
Maruti shares, valued at $6 billion, gained 23 percent in July-September, outpacing a 12.9 percent gain on the BSE auto index.
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