The Wall Street Journal (New Delhi) - Maruti Suzuki India Ltd. Tuesday posted a surprise 18% rise in its first-quarter net profit to 5.49 billion rupees ($124 million) from 4.65 billion rupees a year earlier even though it produced fewer vehicles due to a strike at one of its factories.
Profit beat the 3.72 billion rupees forecast in a poll of eight analysts.
Sales in the three months ended June 30 rose 3.3% to 83.20 billion rupees from 80.51 billion rupees a year earlier, the local unit of Suzuki Motor Corp. said.
Maruti's vehicle sales in the quarter fell nearly 1% to 281,526 vehicles. It lost 10 days of production due to a strike at its factory at Manesar in the northern state of Haryana, causing a production loss of 12,600 vehicles.
Sales in the local market rose 3.2% to 250,683 vehicles, it said.
