Indian passenger car leader Maruti Udyog has reported a 57.4% increase in net profit to INR8.53 billion (€147.17 million).
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Fiscal year sales were up 19.7% year on year to INR113.54 billion (€1.96 billion). Profit before tax rose 69.5% to INR 13.04 billion (€224.96 million).
Maruti sold a record 536,301 vehicles, up 13.6%, including exports of 48,899 units.
During the year the Alto became the largest selling car for the company, displacing the smaller 800. The company also began a cost reduction programme by forming joint working groups with its suppliers.
In a separate development, the board of directors of Maruti Udyog extended the tenure of managing director Jagdish Khattar for another three years.
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By GlobalDataDeepesh Rathore / Tilak Swarup
