Maruti Suzuki's December Quarter Profit Drops 17%, Misses Street Estimates

Maruti Suzuki India Ltd posted a 17.2 per cent drop in third-quarter profit on Friday, missing consensus estimate, as rising commodity prices weighed on demand.

Profit for the automaker, majority-owned by Japan's Suzuki Motor Corp, fell to 1,489 crore rupees ($209.65 million) for the three months ended December 31, from 1,799 crore rupees a year earlier.

Analysts on average had expected country's top-selling car maker to post a profit of 1,744 crore rupees, according to a data from Refinitiv.

Maruti's total revenue from operations rose nearly two per cent to 19,668 crore rupees, the company said.