Higher discounts and promotion costs hurt Maruti Suzuki's Q3 performance

India’s largest carmaker disappointed the Street with a muted set of results in the December quarter. Volumes were up marginally over the year-ago period and sharply over the September quarter on the back of an aggressive sales promotion and higher discounts.   Realisations, however, did not live up to the Street's expectations, pulled down by a weak mix and discounts. Discounts, which were Rs 23,000 per unit, helped reduce the BS-IV inventory and push overall volume. While the operating profit margin was back in the double-digit territory at 10.2 per cent after the September .....

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