Maruti Suzuki reported a smaller-than-expected quarterly profit on Tuesday as a jump in expenses outpaced a rise in revenue.
India’s top carmaker by sales reported a profit of ₹2,415 crore ($253.85 million) for the July to September quarter, below analysts’ estimates of ₹3,105 crore, according to data compiled by LSEG.
Indian automakers have struggled to manage rising costs of critical raw materials such as steel and copper, triggered by the Middle East war, which has prompted them to raise prices through this year.
Expenses during the quarter jumped to ₹50,604 crore from ₹39,008 crore a year earlier.
In September, the WagonR and Swift hatchback-maker raised prices of select models by up to ₹20,000, marking its third hike since May, but higher costs continued to weigh on profitability.
However, robust demand for compact cars ahead of the festive season helped lift quarterly revenue by 26% to ₹53,340 crore.
Analysts expect sales growth to moderate in the second half of the year as automakers face a higher base of comparison from a year earlier when demand was boosted by tax cuts.
Published on October 27, 2026
