Maruti Suzuki Q3 profit slumps 64 pct

Maruti Suzuki, India's biggest carmaker, reported a bigger-than-expected 63.6 percent fall in quarterly net profit as high interest rates and rising fuel costs hit demand for cars in Asia's third-largest economy.

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Maruti, 54.2 percent owned by Japan's Suzuki Motor Corp, saw sales plunge 28 percent in the December quarter, because of a slowdown in small-car sales - its key product - while recovering from labour unrest last summer.

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The company said profit fell to 2.06 billion rupees in the quarter from 5.65 billion rupees a year earlier, while sales fell to 76.6 billion rupees from 92.8 billion rupees.

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