Maruti Suzuki India Ltd., India’s largest carmaker by market share, posted a lower-than-expected quarterly profit squeezed by higher raw material prices. Shares fell.

Maruti Suzuki, India's top carmaker by volumes, missed third-quarter profit expectations on Wednesday, hurt by higher discounts and a dip in small car sales. Following two years of rapid growth, Indian automakers faced pressure throughout much of 2024 due to weak demand for new cars and rising costs,

A Moneycontrol poll of brokerages estimated a strong revenue and profit growth, driven by high volumes, good product mix, and higher average selling prices.

Maruti Suzuki India's net profit reached INR 3,727 crore in the third quarter. This represents a significant increase compared to the INR 3,207 crore profit reported in the third quarter of the previous year.

Maruti Suzuki , India's top carmaker by volumes, reported a smaller-than-expected third-quarter profit on Wednesday, hurt by higher discounts and a dip in small car sales.