India Maruti Q1 net falls 23 pct, 4th straight qtrly profit drop

Newswire

* Net profit 4.24 bln rupees vs 4.85 bln rupees estimate * Says profit hit by adverse currency movements * Lockout at key factory may further hit Maruti NEW DELHI, July 28 (Reuters) - Maruti Suzuki, India's biggest carmaker, lagged estimates with a 23 percent fall in fiscal first-quarter profit, its fourth consecutive quarterly profit decline, as a weak local rupee currency pushed up costs. Maruti, 54.2 percent owned by Japan's ...

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