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Maruti Suzuki Q3 results: Auto giant posts 5% rise in profit at Rs 1,565 crore, misses Street estimates

NEW DELHI: Auto major Maruti Suzuki on Tuesday reported 5.07 per cent year-on-year rise in profit at Rs 1,564.80 crore for December quarter compared with Rs 1,489.30 crore in the same quarter last year.

Analysts in an ET NOW poll had projected the number at Rs 1,680 crore.

During the quarter, cost reduction efforts, lower operating expenses, lower commodity prices and reduction in corporate tax rate were partially offset by higher sales promotion expenses, higher depreciation, and lower fair value gains on invested surplus, the company said.

More to come…

Source: Economic Times