Maruti Suzuki India Ltd., India’s largest carmaker by market share, posted a lower-than-expected quarterly profit squeezed by higher raw material prices. Shares fell.

Maruti sold a total of 566,213 vehicles during the quarter, which was up 13% compared to the same period last year. Of these, 466,993 units were sold in the domestic market, up 8.74%. Exports at 99,220 units was up 38% and its highest-ever quarterly export numbers.

Maruti Suzuki, India's top carmaker by volumes, reported a smaller-than-expected third-quarter profit on Wednesday, hurt by higher discounts and a dip in small car sales. The 'Alto' maker's standalone profit rose 12.

Maruti's Q3 profitability was well maintained, despite pressure from higher discounts and marketing spends, with EBITDA margin decline quarter-on-quarter contained at 26 basis points to 11.6%, compared to 150 basis points decline seen at peer Hyundai.

Maruti Suzuki India reported a 12.6 percent year-on-year increase in standalone net profit for the third quarter of fiscal year 2025 at Rs 3,525 crore vis-a-vis Rs 3,130 crore in the same period last year.

Maruti Suzuki India Ltd has released its third quarter results for the financial year 2024-25 on January 29, 2025.