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Suzuki Q3 operating profit exceeds forecasts on better margins
[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 yen (US$461.13 million) in October-December, up from 45.1 billion yen a year prior and exceeding a median forecast of 43.66 billion yen drawn from 10 analysts in a Thomson Reuters I/B/E/S/ poll.
It kept its full-year profit forecast of 145.0 billion yen unchanged, slightly lower than a median forecast of 147.78 billion yen drawn from 10 analysts in a Thomson Reuters I/B/E/S/ 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.