Maruti Suzuki India (MSIL), the country's largest carmaker, on Tuesday reported a 48 per cent fall in third-quarter (Q3) net profit, as the global chip shortage slowed production and high material costs squeezed margins.
The carmaker reported a standalone net profit of ₹1,011 crore for the three months ended December, compared with ₹1,941 crore a year earlier.
Standalone revenue for the Gurgaon-based company fell 1 per cent to₹23,246 crore. The preceding quarter saw the top line at ₹20,538 crore.
The company hopes to increase production in the fourth quarter, although it will not reach full capacity.
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