Auto major Maruti Suzuki on Friday reported an 11% year-on-year (YoY) decline in its standalone net profit at Rs 3,352 crore in the first quarter, compared with a profit of Rs 3,758 crore in the last year's quarter. The profit was in-line with Street expectations. Revenue from operations in the reporting period increased 36% YoY to Rs 52,456 crore.
The company said material costs had started rising during the quarter and were seriously aggravated during the war. Higher input costs weighed on profit despite strong sales growth.
