Suzuki Motor Corp lifts full-year net profit outlook by 14%

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

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

Suzuki Motor's President Toshihiro Suzuki presents the Air Triser concept car at the 44th Tokyo Motor Show in Tokyo. (REUTERS)

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 September 30, its net profit jumped 46.5% 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.