Toyota profits down 28 percent in first quarter | autos | Hindustan Times
Today in New Delhi, India
Dec 04, 2016-Sunday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Toyota profits down 28 percent in first quarter

autos Updated: Aug 07, 2008 11:50 IST

AFP
Highlight Story

Toyota Motor Corp on Thursday reported a 28.1 per cent slide in first-quarter net profits, keeping its forecast for a slump in full-year earnings due to a weak US economy, a stronger yen and rising costs.

Toyota, in a close race with General Motors for the title of the world's top automaker, posted net profit of 353.66 billion yen (3.2 billion dollars) in the three months to June, the first quarter of the financial year.

Operating profit tumbled 38.9 per cent to 412.59 billion yen as revenue declined 4.7 per cent to about 6.22 trillion yen.

Japan's top automaker maintained its forecast for net profit to slide 27 per cent to 1.25 trillion yen for the full financial year to next March.