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Audi Q3 operating profit falls 54%

Audi Q3 operating profit falls 54%
AP
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First Published: Fri, Oct 30 2009. 02 39 PM IST
Updated: Fri, Oct 30 2009. 02 39 PM IST
Frankfurt: German carmaker Audi AG said Friday its profit fell 54% in the third quarter as the global downturn affected demand for its cars.
Audi, based in Ingolstadt, reported an operating profit of euro348 million ($515 million) compared with an operating profit of euro760 million in the July-September period of 2008. The company did not immediately release net profit figures.
Audi generated revenue of euro7.2 billion between July and September, compared with euro8.4 billion in the third quarter of 2008, a near 15% decrease.
Audi is a unit of Volkswagen AG, Europe’s biggest automotive group by revenue.
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First Published: Fri, Oct 30 2009. 02 39 PM IST
More Topics: Company results | Germany | Earnings | Audi | Loss |