REFILE-Suzuki lifts guidance on soaring India sales

(Corrects to add latest quarterly profit figure in paragraph 2)

TOKYO, Nov 2 (Reuters) - Suzuki Motor Corp (7269.T: Quote, Profile, Research) raised its annual profit forecasts on Monday as sales soared in its main Indian market, setting it apart from other Japanese automakers that have depended heavily on the sinking U.S. market.

Suzuki, Japan's fourth-biggest automaker, reported a 7.1 percent fall in July-September operating profit to 24.98 billion yen ($278 million) from 26.89 billion yen in the second quarter last year, as the yen strengthened against the dollar and overall sales were hit by the worst economic crisis in generations.

The result beat an estimate of 12.45 billion yen in a poll of three analysts by Thomson Reuters I/B/E/S.

Suzuki, like South Korean rival Hyundai Motor Co (005380.KS: Quote, Profile, Research), has been a major beneficiary of a global shift in consumer preference towards smaller cars, partly fanned by government incentives on purchases of less-polluting vehicles.

Suzuki, known for its Swift and Alto hatchback cars, raised its operating profit outlook to 40 billion yen for the year to March 31, 2010, from an initial forecast of 10 billion yen.

Consensus forecasts from 16 brokerages put Suzuki's operating profit for the year at 46.6 billion yen.

Shares of Suzuki lost 3.5 percent during the second quarter, underperforming Tokyo's transport sector subindex , which was flat. (Reporting by Chang-Ran Kim)