By Reuters

(Reuters) - Hyundai Motor India (HYUN.NS) reported a smaller-than-expected drop in ​fourth-quarter profit on Friday, helped ‌by strong domestic and export demand for its higher-margin SUVs.

The unit of South Korea's ​Hyundai Motor (005380.KS) reported a consolidated ​profit of 12.56 billion rupees ($132.96 million)for ⁠the quarter ended March 31, from ​16.14 billion rupees a year before.

Analysts, ​on average, had expected profit to fall to 12.37 billion rupees, per data compiled by ​LSEG.

Vehicle sales in India have ​picked up since New Delhi cut taxes last ‌September, ⁠boosting showroom footfalls and supporting pricing power.

During the quarter Hyundai's total sales rose 8.7% and exports gained 9.4% ​driven by ​strong demand ⁠for the Creta SUV, helping it fend off competition ​from local rival Mahindra (MAHM.NS).

That helped ​Hyundai ⁠offset the impact of high commodity prices due to the ongoing Iran ⁠war.

Quarterly ​revenue rose 5.4% to ​189.16 billion rupees.

($1 = 94.4625 Indian rupees)