Maruti Suzuki India Ltd. reported profit that again fell short of analyst expectations, as surging commodity prices eroded margins despite strong revenue growth and export gains.

The country's largest carmaker said net income missed estimates for the second consecutive quarter, with raw material costs including steel and precious metals rising sharply. Revenue climbed on robust domestic demand and a healthy jump in overseas shipments, but the benefit was largely offset by input cost inflation.

Management indicated that price hikes have been implemented to partially recover costs, though full pass-through remains challenging in a competitive market. Analysts expect margin pressure to persist in the near term unless commodity prices stabilize.

The results highlight the broader challenge for Indian automakers balancing cost inflation with price-sensitive consumers. Maruti's shares reacted negatively, underperforming the sector index as investors weigh near-term profitability against long-term volume growth prospects.