Maruti Suzuki India Ltd., India’s largest carmaker by market share, posted a lower-than-expected quarterly profit squeezed by higher raw material prices. Shares fell.

Maruti Suzuki, India's top carmaker by volumes, missed third-quarter profit expectations on Wednesday, hurt by higher discounts and a dip in small car sales. Following two years of rapid growth, Indian automakers faced pressure throughout much of 2024 due to weak demand for new cars and rising costs,

Maruti sold a total of 566,213 vehicles during the quarter, which was up 13% compared to the same period last year. Of these, 466,993 units were sold in the domestic market, up 8.74%. Exports at 99,220 units was up 38% and its highest-ever quarterly export numbers.

Maruti Suzuki India reported a 12.6 percent year-on-year increase in standalone net profit for the third quarter of fiscal year 2025 at Rs 3,525 crore vis-a-vis Rs 3,130 crore in the same period last year.

Maruti Suzuki India Ltd has released its third quarter results for the financial year 2024-25 on January 29, 2025.