(Bloomberg) -- Maruti Suzuki India Ltd., India’s biggest carmaker, reported a lower-than-expected quarterly profit as rising input costs and supply chain constraints continue being a drag.
Net income was 10.1 billion rupees ($126.4 million) in the three months ended June 30, compared with a profit of 4.4 billion rupees a year earlier, the unit of Japan’s Suzuki Motor Corp. said in a statement Wednesday. That fell short of the average analyst estimate of 15.7 billion rupees, according to data compiled by Bloomberg.
Revenue climbed to 265 billion rupees, which was higher than estimates. Total costs rose 43% to 252.7 billion rupees from the same period last year.
Automakers globally are grappling with a serious supply chain crunch, which has aggravated soaring prices of raw materials, hurting their margins. The increase in expenses has forced automakers including Maruti, Tata Motors Ltd. and Mahindra & Mahindra Ltd. to raise vehicle prices in the Indian market which is dominated by cheap cars, potentially denting demand.