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Suzuki Q3 operating profit exceeds forecasts on better margins
February 6, 2017 / 6:51 AM / 9 months ago

Suzuki Q3 operating profit exceeds forecasts on better margins

TOKYO (Reuters) - 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.

The logo of Maruti Suzuki India Limited is seen on car parked outside a showroom in New Delhi, India, February 29, 2016. REUTERS/Anindito Mukherjee/File Photo

Japan’s fourth-largest automaker said operating profit rose to 51.9 billion yen ($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.

($1 = 112.5500 yen)

Reporting by Naomi Tajitsu; Editing by Christopher Cushing

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