Good Earnings From India And Sale Of VW Stake Lifts Sukuzi Motor Corp's Profit Forecast To $1.03 Billion

04/11/2015 3:28 PM IST | Updated 15/07/2016 8:25 AM IST
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Visitors pass automobiles displayed on the the Suzuki Motor Corp., left, and Honda Motor Co., bottom, stands on day two of the 84th Geneva International Motor Show in Geneva, Switzerland, on Wednesday, March 5, 2014. The International Geneva Motor Show runs from Mar. 4, and will showcase the latest models from the world's top automakers. Photographer: Gianluca Colla/Bloomberg via Getty Images

Japan's Suzuki Motor Corp on Wednesday lifted its annual net profit forecast by 14 percent, citing better-than-expected earnings in India and windfalls from the sale of its stake in Volkswagen AG.

Japan's fourth-largest automaker said it now expects a net profit of 125 billion yen ($1.03 billion) for the year to March 31, 2016, up from its previous forecast of 110 billion yen.

For the six months to Sept. 30, its net profit jumped 46.5 percent to 79.05 billion yen as it booked a profit of 36.7 billion yen from the sale of its Volkswagen stake.

Strong results during the period at its Indian unit, Maruti Suzuki India Ltd, also helped, it said.

($1 = 121.0600 yen)

(Reporting by Chang-Ran Kim; Editing by Anand Basu)

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