Suzuki Motor sees limited profit growth on rising Japan tax, India uncertainty1 min read . Updated: 10 May 2019, 12:00 PM IST
- In the year just ended, Suzuki's profit fell 13.3%
- The compact car maker took a hit from a weaker Indian rupee
Suzuki Motor Corp on Friday forecast a 1.7% rise in profit for this year, anticipating limited growth due to an expected rise in sales tax in Japan, and uncertainty in the economic outlook in India, its biggest market.
Japan's fourth-largest automaker expects operating profit of 330 billion yen ($3.01 billion) in the year to March 2020, lower than the 362.2 billion yen average of 22 analyst estimates compiled by Refinitiv.
In the year just ended, profit fell 13.3% to 324.4 billion yen from the previous year's record high.
The compact car maker took a hit from a weaker Indian rupee, while costs related to a domestic vehicle recall stemming from improper vehicle inspections also weighed on its bottom line.
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