Maruti Suzuki third-quarter profit drops 17 percent, misses consensus

(Reuters) - Maruti Suzuki India Ltd posted a 17.2 percent 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 14.89 billion rupees ($209.65 million) for the three months ended Dec. 31, from 17.99 billion rupees a year earlier.

Analysts on average had expected India's top-selling car maker to post a profit of 17.44 billion rupees, according to I/B/E/S data from Refinitiv.

Maruti's total revenue from operations rose nearly two percent to 196.68 billion rupees, the company said https://bit.ly/2CK9oB7.

($1 = 71.0230 Indian rupees)

 

(Reporting by Tanvi Mehta in Bengaluru; Editing by Himani Sarkar)