Maruti’s Q3 profit drops.

Maruti Suzuki on Tuesday reported a 48% drop in its third-quarter net profit.

The ongoing global chip shortage and high raw material costs are main reasons for this drop.

Maruti produced an estimated 90,000 units less due to the supply shortage.

Unit sales for Maruti fell to 430,668 vehicles from 495,897 cars a year earlier.

However, the company has more than 240,000 pending customer orders for Q3.