Maruti Suzuki net profit rises 36%

Maruti Suzuki, India's biggest carmaker, reported a 36 per cent rise in third-quarter net profit, matching estimates, as favourable foreign exchange movement and cost reduction efforts offset falling sales.

Maruti, controlled by Japan's Suzuki Motor Corp, said profit for the Oct-Dec quarter was Rs 681 crore (Rs 6.81 billion), up from Rs 501 crore (Rs 5.01 billion) in the same quarter of 2013. Sales fell about 3 per cent to Rs 10,620 crore (Rs 106.2 billion).

Analysts had expected the company to post a profit of Rs 684 crore (Rs 6.84 billion), according to Thomson Reuters I/B/E/S.