Maruti records 33.4% increase in net profit in 2014-15

Maruti Suzuki India recorded net sales of Rs 48,605.5 crore in FY2014-15, a gain of 14 percent over the previous fiscal.

The company’s net profits for the fiscal stood at Rs 3,711.2 crore, an increase of 33.4 percent compared to 2013-14. In a statement, the company said that higher volumes, a favourable foreign exchange rate and material cost reduction initiatives contributed to the bottom line performance.

For the last quarter of the fiscal (January-March 2015), the company sold 346,712 vehicles, a growth of 6.7 percent. Of this, exports were at 29,542 units, a growth of 12.4 percent. During the quarter, net sales stood at Rs 13,272.6 crore, up 12.3 percent over the same period a year ago. Net profits for the quarter stood at Rs 1,284.2 crore, a gain of 60.5 percent. 

Maruti bagged six slots in the top 10 models for 2014-15 with the Alto on top as usual though sales for the year were just two percent over year-earlier numbers. The Celerio also entered the Top 10 with 68,143 units sold for the first time.

While the company sold 12,92,415 units during the year, a growth of 11.9 percent over the previous year, exports at 121,713 units were up 20 percent.