Maruti Suzuki's profits soar 60% in Q4, sales up 6.7%

India’s largest car maker Maruti Suzuki reported a 60.5% rise in net profits for Q4 2014, beating all estimates. The company’s net profit stood at Rs 1,248 crore in Q4, as against Rs 800.05 crore during the same time the previous year.

Revenue rose by 12.3% from 11,818 crore to Rs 13,272 crore, suggesting an increase in profitability. Overall sales increased marginally by 6.7% to 346,712 units, out of which 29,542 cars were exported to the foreign markets.

“Higher volumes, material cost reduction initiatives, favourable foreign exchange and lower sales promotion expenses contributed to the bottom-line during the quarter,” the company said in a statement.

Maruti built on a strong Q4 to report positive results for the fiscal year ending 31st March 2015. Revenues were up by nearly 14% to Rs 48,605.53 crore while net profits climbed by over 1,000 crores to Rs 3,7112 crores.

In terms of sales, Maruti remained at the top of the leaderboard - and by a massive margin - with 12,92,415 units sold during the recently concluded financial year.

With the company clearly on a high, its announced dividends of Rs 25 per share, as opposed to Rs 12 during the previous year.