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Suzuki lifts full-year net profit outlook on strong India, VW stake sale

Suzuki Motor Corp expects a net profit of 125 billion yen for FY16, up from its previous forecast of 110 billion yen

A view shows a Suzuki car dealership sign in National City, California

A view shows a Suzuki car dealership sign in National City, California

Reuters Tokyo

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 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.

 

($1 = 121.0600 yen)

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First Published: Nov 04 2015 | 12:20 PM IST

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