Suzuki Q3 operating profit up slightly; net profit outlook trimmed | Reuters

TOKYO Suzuki Motor Corp (7269.T) said operating profit rose slightly in the third quarter on healthy demand in India, but trimmed its full-year net profit outlook due to a tax-related issue.

Japan's fourth-largest automaker posted a 1 percent increase in operating profit to 45.1 billion yen ($384.5 million) in the October-December period, just short of an average forecast of 49.7 billion yen from 11 analysts polled by Thomson Reuters I/B/E/S/.

Suzuki cut its annual net profit outlook by 4 percent to 120 billion yen, saying a planned cut in the corporate tax rate will affect its calculations for deferred tax assets. The forecast is, however, still higher than last year's net profit of 96.9 billion yen.

Suzuki's Indian business Maruti Suzuki India (MRTI.NS) is India's top-selling carmaker, with nearly 50 percent of the passenger vehicle market, but it faces growing competition from Toyota Motor Corp (7203.T), which last month said it would make rival minivehicle maker Daihatsu Motor Co Ltd (7262.T) a wholly owned unit.

($1 = 117.3400 yen)

(Reporting by Naomi Tajitsu; Editing by Edwina Gibbs)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Feb 08, 2016 15:08 PM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See