Maruti Suzuki, the largest car manufacturer in India has witnessed double the net profit for the fourth quarter of the 2012-13 fiscal against the net profit for the same period in 2011-12 fiscal. The increase in profits is being attributed to the costs cuts, weakening of the Japanese Yen and launch of new car models.
According to the carmaker, the increase in net profit for the quarter is credited to the higher sales of new models such as the Ertiga MUV, the DZire compact sedan and the Swift hatchback in addition to cost reductions and increased localization. Another factor for the increase in profits is a favorable exchange rate with the Japanese Yen.
Maruti Suzuki India is the biggest overseas unit of Suzuki Motor, the Japanese automobile manufacturer and contributed to more than half of its net profits.