Maruti Suzuki India Ltd reported better-than-expected quarterly profit on Tuesday, as the country’s biggest carmaker benefitted from strong demand for its passenger cars.
Profit for Maruti, which has over 40% market share in the country’s passenger vehicles segment, came in at 23.51 billion rupees ($288.53 million) for the quarter ended Dec. 31, compared with 10.11 billion rupees a year ago.
Analysts on average had expected the company to report a profit of 18.81 billion rupees, according to Refinitiv IBES data.
Maruti sold 465,911 vehicles in the quarter, up from 430,668 units the same quarter last year.
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