Maruti sold 3,62,426 vehicle units during the year, a growth of about 2.8 per cent over 2001-02. Vehicle sales included exports of 32,240 units, a growth of 163 per cent over 2001-02.
The profit was largely attributed to aggressive cost-cutting measures and enhanced productivity, a company statement said.
Suzuki Motor Corporation of Japan, which raised its equity to a majority 54.2 per cent last year, said the profits was also due to enhanced productivity in in-house manufacturing and vendor facilities.
During the year, Maruti engineers worked closely with component suppliers, leading to a reduction in the cost of components and further improvements in quality. The localisation levels for components also went up and helped in reducing costs.
The company was able to increase productivity in in-house manufacturing and at vendors facilities.