Business Today
Loading...

Suzuki lifts annual net profit forecast on strong India sales

Japan's fourth-largest automaker said it now expects a net profit of 125 billion yen ($1.03 billion) for the year to March 31, 2016, up from its previous forecast of 110 billion yen.

twitter-logoReuters | November 4, 2015 | Updated 15:25 IST
Suzuki lifts annual net profit forecast on strong India sales
Suzuki Motor Corp said it now expects a net profit of 125 billion yen ($1.03 billion) for the year to March 31, 2016. (Photo: Reuters)

Suzuki Motor Corp on Wednesday lifted its annual net profit forecast by 14 per cent, citing better-than-expected earnings in India and windfalls from the sale of its stake in Volkswagen AG.

Japan's fourth-largest automaker said it now expects a net profit of 125 billion yen ($1.03 billion) for the year to March 31, 2016, up from its previous forecast of 110 billion yen.

For the six months to September 30, its net profit jumped 46.5 per cent to 79.05 billion yen as it booked a profit of 36.7 billion yen from the sale of its Volkswagen stake.

Strong results during the period at its Indian unit, Maruti Suzuki India Ltd, also helped, it said.

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close