Indian automaker Maruti Q1 net rises 35 pct

Newswire

MUMBAI, July 26 (Reuters) - India's largest car maker, Maruti Udyog Ltd. , reported a higher-than-expected 35 percent rise in quarterly net profit on Thursday as cost cutting and solid sales of premium cars offset volatile raw material costs and rising interest rates. Maruti, 54.2 percent owned by Japan's Suzuki Motor Corp. , said net profit rose to 4.99 billion rupees ($124 million) in the fiscal first quarter to end-June, from 3.70 billion rupees in the same period a year earlier. That ...

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Jul 26, 2016
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