NEW DELHI, Jan 23 (Reuters) - Maruti Udyog Ltd , India's biggest carmaker, reported on Friday profit nearly trebled in the December quarter as sales surged on a consumer spending boom fuelled by economic growth and low interest rates.
Maruti, which has seen its share price more than double since it listed last July, said net profit was 1.41 billion rupees ($31 million) in the third fiscal quarter to December 31 compared to 496.8 million a year ago.
A Reuters poll of 13 brokerages earlier this month forecast net profit of 1.4 billion rupees and revenue of 23.1 billion.
Maruti, which has a 47 percent share of the domestic market with its small low-price cars, have been boosted by an industry boom, fuelled by a tax cut on cars 10 months ago that made them about five percent cheaper.
Its shares have more than doubled from their early July debut and are up 59.2 percent over the past three and a half months, outpacing a 25.6 percent rise in the benchmark Bombay index , as car industry sales soared. ($1 = 45.4 rupees)