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New Delhi-based Maruti said on Thursday net profit fell to 2.14 billion rupees ($43.8 million) in its fiscal third quarter ended December.
Net sales fell 2.8 per cent to 46.26 billion rupees, it said.
That compared with a net profit forecast of 2.48 billion rupees on net sales of 43.22 billion in a Reuters poll.
Maruti, 54.2 per cent owned by Japan's Suzuki Motor Corp, holds almost half the Indian car market with models such as the best-selling Alto and Swift hatchbacks.
Shares in Maruti, valued at $3.2 billion, fell 24.3 per cent in the December quarter in line with the main index.
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