Maruti Suzuki India Ltd , the country’s top-selling car maker, posted a 15.8 per cent rise in fourth-quarter profit on Thursday, helped by increases in sales of premium models such as the Brezza SUV and Baleno hatchback.
Net profit for the three months ended March 31 rose to Rs 17.09 billion ($266.64 million) from Rs 14.76 billion in the year-ago quarter, the company said in a statement.
The profit figure however slightly missed analysts’ average estimate. Analysts had expected the company to post a profit of Rs 17.56 billion, according to Thomson Reuters data.
Total income from operations of Maruti, which is majority-owned by Japan’s Suzuki Motor Corp, rose 20.4 per cent to Rs 207.51 billion. The company sold a total of 414,439 passenger vehicles during the quarter, up about 15 per cent from the year ago period. ($1 = 64.0950 Indian rupees)
(Reporting by Aditi Shah; Editing by Muralikumar Anantharaman)