Putting up a strong show in the fourth quarter of the financial year 2016-2017, Maruti Suzuki reported an almost 16% growth in its net profit, Reuters said. A better product mix and high sales figures for premium models such as the Brezza SUV and Baleno hatchback led to the rise in profit, the news agency reported.

The company reported a profit of Rs 1,709 crore for the fourth quarter that ended on March 31, 2017. The total profit for the financial year was Rs 7,337 crore, according to Business Standard. Sales revenue for the fourth quarter rose over 20% to Rs 18,005 crore. Maruti sold 4,14,439 vehicles during the quarter, which is an increase of 15% over the same quarter last year. Revenue for the year grew over 18% to Rs 66,909 crore. The annual volume growth was 9.8% to 1.56 million units.

The company said an increase in commodity prices and adverse forex movement took away part of the gains brought by increase in volumes. Maruti, which has a 47% share in the domestic passenger vehicle market, also saw its stock price touch a new high of Rs 6,444 on the Bombay Stock Exchange.