BENGALURU :Maruti Suzuki India Ltd beat quarterly profit estimates and reported improved margins on Tuesday as the country's biggest carmaker benefitted from strong demand for its passenger cars, helped by festive sales.
Maruti's results are seen as a key indicator of private consumption in the country, with the auto sector carrying more than 50 per cent weightage in calculating the country's economic growth. Maruti, majority owned by Japan's Suzuki Motor Corp, said vehicle sales rose to 465,911 units in the quarter from 430,668 units a year ago.
Carmakers, including Maruti, took a hit during the pandemic when demand dwindled and a shortage of chips further hit their ability to build vehicles.
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