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Maruti Suzuki Misses Profit Estimates

India automaker Maruti Suzuki reported a quarterly profit below expectations as surging expenses outpaced a twenty six percent rise in revenue. Higher material costs weighed on profitability despite robust festive demand.

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FILE PHOTO: Employees assemble different parts onto a car panel at the manufacturing plant of Maruti Suzuki in Manesar, in the northern state of Haryana, India, September 26, 2023. REUTERS/Anushree Fadnavis/File Photo

MARUTI SUZUKI INDIA LTD reported a quarterly profit of 24.15 billion rupees ($253.85 million) on Tuesday, missing analyst estimates as expenses outpaced revenue growth in India.