Moneycontrol Be a Pro
Get App
you are here: HomeNewsWorld
Last Updated : Jun 23, 2011 08:57 AM IST | Source: Reuters

Suzuki sees 2.9% rise in 2011/12 operating profit

Japan's Suzuki Motor Corp forecast a 2.9% rise in annual operating profit on Thursday even as the March 11 earthquake forced a limited start to production and demand slows in its key Indian market.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Japan's Suzuki Motor Corp forecast a 2.9% rise in annual operating profit on Thursday even as the March 11 earthquake forced a limited start to production and demand slows in its key Indian market.


Japan's fourth-largest automaker sees an operating profit of 110 billion yen (USD 1.37 billion) for the business year ending in March 2012, easily beating the average forecast of 90.4 billion yen in a survey of 20 analysts by Thomson Reuters I/B/E/S.


The maker of the Swift and other compact cars sees net profit of 50 billion yen, up 10.7% from 2010/11.


Suzuki's shares jumped on the news, trading up 3.6% at 1,765 yen in morning trade, while Tokyo's transport sector subindex was 1% higher.


Suzuki last month posted a 51% drop in fourth-quarter operating profit to 14.48 billion yen (USD 180 million), citing a hit from the supply chain disruption after the magnitude-9.0 earthquake.


Suzuki's majority-owned Indian unit, Maruti Suzuki India Ltd, last week ended a 13-day strike by employees that had crippled production and led to more than USD 90 million in lost output. About 800 workers had been on strike at the top Indian automaker's Manesar plant, demanding recognition of a new union specific to the plant. The company has one workers' union recognised by management.


A Maruti spokesman has said it would not recognise a new union but would look into forming an individual entity at the plant. Suzuki owns 54.2% of Maruti.

(USD 1 = 80.315 Japanese Yen)



Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
First Published on Jun 23, 2011 08:50 am
Loading...
Follow us on
Available On