Indian carmaker Maruti’s quarterly profit rises by 93 percent

On Saturday, India’s largest car maker, Maruti Suzuki, announced that its quarterly profit rose by a whopping 93 percent. It is also an indicator of India’s recovering economy.

Maruti, which is partially owned by Japan’s automobile company Suzuki, reported that it made a profit of 5.7 billion rupees ($123 million).

The rise in profit is mainly due to the Indian government’s initiatives to boost the economy which providing the Indian middle class with more money to spend. Maruti’s cars are usually small and cheap which are perfect for nuclear middle class families.

“Demand has been driven by government stimulus,” Maruti Suzuki India Ltd said in a statement issued in New Delhi.

Hopefully, Maruti will be able to keep its progress going in future.