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Markets News

Maruti Suzuki India posts quarterly profit

BENGALURU, Oct 29 (Reuters) - Maruti Suzuki India Ltd reported a profit for the second-quarter on Thursday, as the lifting of coronavirus restrictions brought back customers to the carmaker’s showrooms and also eased supply chain disruptions.

India’s largest automaker by market capitalization reported a net profit of 13.72 billion rupees ($185.55 million) for the three months ended Sept. 30. The company posted a profit of 13.59 billion rupees a year earlier.

Maruti’s domestic unit sales rose 18.6% year-on-year to 370,619 vehicles.

Revenue from operations rose more than 10% to 187.45 billion rupees.

The company in July reported its first quarterly loss since listing in 2003.

$1 = 73.9430 Indian rupees Reporting by Chandini Monnappa in Bengaluru; Editing by Aditya Soni

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