India’s largest automaker Maruti Suzuki India Ltd announced a July-September profit of ₹32.9 billion (~USD 374 million), up 7.3 % y/y but below expectations of ₹35.9 billion. Operating margin fell to 8.5 % from 10.3 % a year ago, due to rising commodity prices, higher promotions and expenses tied to a new plant planned in Gujarat. Domestic sales declined 5.1 % while exports jumped 42.2 %. The earnings miss prompted shares to dip in early trading.