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Top India Carmaker’s Profit Disappoints as High Costs Bite

  • Maruti Suzuki’s June quarter revenue beat analyst estimates
  • Both total costs and raw material costs jumped by 43%: filing
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Maruti Suzuki India Ltd., India’s biggest carmaker, reported a lower-than-expected quarterly profit as rising input costs and supply chain constraints hurt earnings.

Net income was 10.1 billion rupees ($126 million) in the three months ended June 30, compared with a profit of 4.4 billion rupees a year earlier, the unit of Japan’s Suzuki Motor Corp. said in a statement Wednesday. That fell short of the average analyst estimate of 15.7 billion rupees, according to data compiled by Bloomberg.