India's Maruti Suzuki Q4 net up 0.5pct, beats estimates

Maruti Suzuki , India's top car maker, on Monday reported a 0.5 per cent rise in quarterly net profit, beating estimates.

Maruti, 54.2 per cent owned by Japan's Suzuki Motor Corp, posted a net profit of 6.6 billion rupees ($149.1 million) for its fiscal fourth quarter ended March 31. A Reuters poll had forecast net profit at 6.06 billion rupees for Maruti, which sells roughly half the cars in India but is facing intensifying competition from the likes of South Korea's Hyundai Motors , the second-largest car maker in India, as well as domestic rivals.