© Reuters. FILE PHOTO: Corporate office of Maruti Suzuki India Limited is pictured in New Delhi, India, February 26, 2016. REUTERS/Anindito Mukherjee/File Photo
BENGALURU (Reuters) – 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.
($1 = 81.4825 Indian rupees)
