Maruti Suzuki, Suzuki’s Indian subsidiary, published its FY2014 (April 2014 to March 2015) financial results on April 27. Maruti Suzuki holds nearly 40% of the Indian passenger car market.
According to Maruti Suzuki, they logged a total net sales of 486.055 billion rupees (roughly 915.5 billion yen). Net sales are up 14%, a double-digit increase, compared to last year’s 426.448 billion rupees.
The net profit in FY2014 stood at 37.112 billion rupees (roughly 70 billion yen). Net profits are significantly up 33.4% compared to last year’s 27.831 billion rupees.
Maruti Suzuki sold a total of 1,292,415 units (including exports), exceeding the record sales of 1,271,005 units in FY2010. Auto sales show a positive year-on-year growth of 11.9%.
The breakdown of the 1,292,415 units sold in FY2014 is as follows: 1,170,702 units were sold in India, up 11.1 year-on-year; and 121,713 units were exported, up 20.1% year-on-year.
Maruti Suzuki explained, “The increase in sales, favorable foreign exchange rates, and cost reduction contributed to the positive earnings.”
(Translated by Katherine N. Bantiles)