(Bloomberg) -- Maruti Suzuki India Ltd.’s profit missed estimates as the global semiconductor shortage continued to hurt margins but the automaker showed a surge in revenue.
Net income fell 65% to 4.75 billion rupees ($63.4 million) in the three months ended Sept. 30, the unit of Japan’s Suzuki Motor Corp. said in a statement Wednesday. That’s less than the average analyst estimate of 6.9 billion rupees, according to data compiled by Bloomberg.
Revenue, however, rose 9.6% to 205.4 billion rupees and beat estimates, buoyed by strong demand rebound in the broader Indian economy as new Covid-19 infections ebb.
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