Maruti says yen exchange rate remains volatile

Last Updated: Fri, Apr 26, 2013 08:32 hrs

Maruti Suzuki India Ltd has benefitted recently from a weaker Japanese yen, its outgoing chief executive officer said on Friday, adding that the currency exchange rate between the yen and the rupee continues to be volatile.

Maruti will continue with its plans to reduce its reliance on imports from Japan, Shinzo Nakanishi told reporters. Imports from Japan account for around 20 percent of its costs.

Maruti reported an 80 percent rise in net profit for the quarter to end-March.

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