February 7, 2020 / 6:23 AM / 14 days ago

Suzuki posts 11% fall in Q3 profit, hit by slowing India demand

TOKYO, Feb 7 (Reuters) - Suzuki Motor Corp reported on Friday an 11% fall in third-quarter operating profit to its lowest in roughly three years as vehicles sales in Japan, Pakistan and Thailand slipped, while demand in India, its biggest market, stayed weak.

Japan’s fourth-largest automaker posted an operating profit of 51.8 billion yen ($471.34 million) for the October-December quarter, its lowest since the March 2016 quarter and down from 58 billion yen a year ago.

It was below an average profit forecast of 58.4 billion yen from nine analysts according to Refinitiv data.

Suzuki kept its forecast for full-year operating profit to drop 40% to 200 billion yen, a four-year low and a long way off its record high of 374.2 billion yen hit in the business year ended in March 2018. ($1 = 109.9000 yen) (Reporting by Naomi Tajitsu; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below