India largest carmaker, Maruti Suzuki has said that it has recorded an increase of 80 per cent in net profit during the fourth quarter of the financial year 2012-2013.

The company recorded a rise of 79.4 per cent jump in its standalone net profit to Rs 1,147.5 crore during the fourth quarter from January to March, 2013. Maruti Suzuki India (MSI) said in a statement that the company had recorded a net profit of just Rs 639.8 crore during the same quarter of the previous year.

The impressive rise of 80 per cent comes following strong sales of its Ertiga multi-purpose vehicle and a lower Yen that allowed it to get cheaper imports. Indian automaker gained significantly from new launches and weakness in Yen. Maruti Suzuki's exposure to Yen is about 20 to 25 per cent, according to experts. There are indications that the company will be able to improve margins by reducing the costs of importing auto parts from Japan.

The company's sales recorded an increase of 9.4 per cent to Rs. 12,566.6 crore from Rs 11,486.4 crore recorded in the same quarter of the previous year. The company sold 3,43,709 vehicles during the fourth quarter compared to 3,60,334 units in the same period of the previous year.

MSI said, "The increase in net profit during the quarter was on account of higher sales of new models such as Ertiga, DZire and Swift; cost reduction and localisation efforts, and the benefit of a favourable exchange rate."