HomeBusinessMaruti Suzuki India net profit falls 48per cent in third quarter

Maruti Suzuki India net profit falls 48per cent in third quarter

BENGALURU : India’s prime automotive maker Maruti Suzuki India Ltd posted a 48per cent fall in third-quarter net profit on Tuesday, as a worldwide chip scarcity slowed manufacturing and excessive materials prices squeezed margins.

The firm reported a profit of 10.11 billion rupees ($135.43 million) for the three months ended Dec. 31, in contrast with 19.41 billion rupees a yr earlier.

($1 = 74.6525 Indian rupees)

(Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Subhranshu Sahu)

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