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Maruti Suzuki reports first fall in quarterly net profit in two years

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India's biggest automaker, Maruti Suzuki India Ltd , posted its first fall in quarterly net profit in two years, hit by higher expenses and production loss due to civil unrest near its factory, but met analyst estimates. Net profit for the three months ended March 31 dropped 11.7 percent to 11.34 billion rupees ($170.10 million) from 12.8 billion in the year-ago quarter. Analysts had expected a profit of 11.3 billion, according to Thomson Reuters data.Net sales of the carmaker, majority-owned by Japan's Suzuki Motor Corp , rose 12.5 percent to 149.3 billion rupees. The ...

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First Published: Tue, April 26 2016. 13:15 IST