MUMBAI, Jan 28 (Reuters) - Maruti Suzuki India Ltd , India’s biggest carmaker, reported a 36 percent rise in third-quarter net profit, matching estimates, as favourable foreign exchange movement and cost reduction efforts offset falling sales.
Maruti, controlled by Japan’s Suzuki Motor Corp, said profit for the Oct-Dec quarter was 6.81 billion rupees ($108 million), up from 5.01 billion rupees in the same quarter of 2013. Sales fell about 3 percent to 106.2 billion rupees.
Analysts had expected the company to post a profit of 6.84 billion rupees, according to Thomson Reuters I/B/E/S. ($1 = 63.2400 rupees) (Reporting by Aradhana Aravindan; Editing by Anand Basu)