(Bloomberg) -- Maruti Suzuki India Ltd., the nation’s biggest carmaker, reported a better-than-expected quarterly profit, as the company’s cost reduction efforts and higher car prices boosted margins. 

Net income was 10.1 billion rupees ($135 million) in the three months ended Dec. 31, compared with a profit of 19.4 billion rupees a year earlier, the unit of Japan’s Suzuki Motor Corp. said in a statement Tuesday. That exceeded the average analyst estimate of 9.1 billion rupees, according to data compiled by Bloomberg. Revenue stood at 232.5 billion rupees, beating estimates of 231.1 billion rupees.

Shares of the company rose as much as 4.4% after the results. 

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