Maruti Profit Misses Estimates on New Models Promotion Costs
- Sales of Baleno hatchback started at NEXA outlets in October
- Domestic deliveries increased 16% in October-December quarter
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Maruti Suzuki India Ltd. posted profit that missed analyst estimates as costs for promoting new models eroded gains from an increase in local deliveries.
Net income in the quarter through December climbed 27 percent to 10.2 billion rupees ($149.5 million), the New Delhi-based unit of Suzuki Motor Corp. said Thursday. That compares with the 13.3 billion rupee average of 29 analysts’ estimates compiled by Bloomberg. Net sales rose 20 percent to 147.7 billion rupees.