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India’s largest carmaker Maruti Suzuki on Tuesday missed Street estimates as it posted a profit of Rs 1,565 crore in the December quarter. Analysts in an ET NOW poll had projected the number at Rs 1,680 crore.The company’s margins improved on cost-cutting and lower raw material prices. Here are key takeaways from Maruti Suzuki’s third-quarter earnings:Profit risesProfit stood at Rs 1,564.8 crore, up 5.1 per cent led by cost reduction efforts. The profit took a hit from higher sales promotion expenses, higher depreciation, and lower fair value gains on invested surplus.Margins improveMargins edged 30-basis point higher to 10.1 per cent in the quarter from 9.8 per cent earlier. The company counted cost reduction efforts, lower commodity prices, lower operating expenses and lower corporate tax rate among factors that helped the margins.Revenue inches upThe company registered sales of Rs 19,649.1 crore, up 3.8 per cent. The company sold 4.37 lakh vehicles in the December quarter, up 2 per cent from the year-ago period.Exports flatExports for the company rose 2.7 per cent as it sold 23,663 vehicles outside India during the quarter. The domestic growth in sales was at 2 per cent as it sold 4,13,698 vehicles.Tax boostTax expense of the company came down by Rs 129 crore to Rs 441 crore in the quarter. A chunk of it, Rs 63 crore was in deferred tax, while Rs 378 crore was current tax.
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5-point guide to Maruti's Q3 numbers today
