Mitsubishi Motors Corp. posted an estimated record group net profit of 38 billion yen for the year through March, up nearly fourfold from the previous year, due partly to reduced operation costs and increased overseas sales, the automaker said Thursday.

In revising upward its projections for fiscal 2002, it said its group pretax profit surged to 55 billion yen from 12 billion yen in fiscal 2001. Its group operating profit is expected to more than double to 83 billion yen.

Group sales are expected to have risen to 3.96 trillion yen from 3.2 trillion yen in fiscal 2001, MMC said.