Russia’s largest carmaker, GAZ Group owned by billionaire Oleg Deripaska, earned RUB2.1bn (US$74.34m) in net profit in 2010, company president Bo Andersson said.

Revenue for the year rose 47% compared to 2009 to RUB96.7bn, he told Reuters.

“The main factor in the group’s successful financial results and the driver behind revenue growth was the launch of the new GAZelle Business vehicle,” he said.

GAZ, which was close to bankruptcy before a government bailout in 2009, hasn’t reported financial results since 2007.