Suzuki Q3 profit exceeds forecasts on better margins
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Tokyo: Suzuki Motor Corp. on Monday reported a higher-than-expected rise in third-quarter operating profit on the back of better margins, while sales remained strong in its biggest market of India.
Japan’s fourth-largest automaker said operating profit rose to ¥51.9 billion in October-December, up from ¥45.1 billion a year prior and exceeding a median forecast of ¥43.66 billion drawn from 10 analysts in a Thomson Reuters poll.
It kept its full-year profit forecast of ¥145.0 billion unchanged, slightly lower than a median forecast of ¥147.78 billion drawn from 10 analysts in a Thomson Reuters poll.
Suzuki, which specialises in ultra-compact cars, has benefited from strong demand for its higher-margin vehicles in India, which accounts for around half of its total global sales. This has offset slower sales at home and in other Asian regions.