Maruti Suzuki India Ltd, the country’s largest carmaker has reported a 9.4 per cent year-on-year decrease in net profit to Rs 1,166.1 crore for the quarter ending March 31, owing to a substantial jump in input costs due to increase in prices of commodities like steel, copper, and some precious metals.

The other income for the quarter also dropped sharply by 89.8 per cent due to mark to market losses incurred on certain investments, further impacting its bottom-line. The company posted a net profit of Rs 1,291.7 crore in the corresponding period as sales took a hit due to economic slowdown and transition to new safety and emission norms.

The carmaker reported a 32 per cent y-o-y increase in net sales to Rs 24,024 crore on the back of 27.8 per cent jump in total vehicle sales to 4,92,235 units. Sequentially, the sale of vehicles decreased marginally by 0.7 per cent from the December quarter.

As a result of the double-digit increase in vehicle sales, the company managed to beat the revenue estimates of Bloomberg, pegged at Rs 23,919 crore, but missed the net profit estimate of Rs 1.699.3 crore.