Asia gives profit boost to Suzuki but competition in India freezes forecasts

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof whatsapp SUZUKI Motors, Japan’s No4 automaker, posted a 31 per cent rise in quarterly profit yesterday on brisk sales in Asia, and stuck to its conservative forecasts as competition intensifies in the key Indian market.Suzuki has enjoyed robust earnings growth compared with most domestic rivals thanks to its limited exposure to the stronger yen and heavy weighting in India, where majority-held unit Maruti Suzuki India sells every other car.But falling margins in India due to rising raw materials prices and slowing growth in the country’s car market have weighed on Suzuki’s shares, which have been the worst performer among Japanese auto stocks in the past three months.“The trend of rising sales and profits remains, but the pace of growth has slowed compared with the first and second quarters,” senior operating officer Takao Hirosawa said, citing margin pressure from higher raw materials prices in India.In the October-December third quarter, operating profit at the maker of the SX-4, Swift and other compact cars came to 23.64bn yen (£178.6m), up 31 per cent from a year earlier and roughly in line with estimates.That brought its nine-month profit to 92.46bn yen, just shy of its full-year forecast of 100bn yen. A survey of 21 analysts put the profit at a much better 115.8bn yen for the year to March 31, up 46 per cent from last year. KCS-content Tags: NULL Monday 7 February 2011 7:54 pmcenter_img whatsapp Asia gives profit boost to Suzuki but competition in India freezes forecasts Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Sharelast_img read more