Maruti Suzuki, the country’s largest car maker, on Tuesday reported that its net profit rose 5 per cent year-on-year to Rs 1,565 crore in the quarter ended December 2019. The profit primarily came on account of cost reduction efforts, lower commodity prices and improved capacity utilization, Maruti Suzuki said in a press release. However, higher sales promotion expenses and lower fair value gain on invested surplus capped the profitability.
Analysts on average had expected the country’s largest car maker to report a profit of Rs 1,647 crore, according to Refinitiv data, news agency Reuters reported.
