Recovering from more than half a decade of losses, Honda Cars India declared a profit of Rs 362.7 crore in 2014-15 at the foot of 2015, riding on the back of a 61 per cent jump in revenues at Rs 12,874.3 crore, according to a report.
The last time Honda booked a profit was in 2007-08, when it recorded a net profit of Rs 235.9 crore, according to the company's filings with the Registrar of Companies, reported the Financial Express.
Honda's remarkable growth can be attributed to its foray into the diesel car market along with the company's second manufacturing unit going full throttle. Honda Cars booked a growth of 40.7 per cent in its volume of domestic sale of passenger vehicles, taking its market share to 7.26 per cent in 2014-15 from 5.36 per cent in the previous year.
Honda also marked its entry into the multi-purpose vehicle segment in India with the launch of its mid-size stylish 7-seater Honda Mobilio. With over 1,00,000 units sold in the 15 months of its launch in January 2014, the Honda City also contributed for the carmaker's growth.
"India emerged as the fourth largest market for Honda globally during 2014-15 and holds great potential for future growth as well," the company's directors' report said.
After a fruitful 2014-15, Honda is expected to carry on its good work in 2016 too with the expected launches of the B-RV, a compact SUV based on an extended Brio platform, as well as the new generation Civic and Accord.
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