Honda Motor quarterly net profit surges

July 31st, 2012 - 4:17 pm ICT by IANS  

Tokyo, July 31 (IANS) Automaker Honda’s profit in the second quarter this year surged to 131.72 billion yen ($1.7 billion) on brisk car sales in major global markets.

For the April-June period, the Tokyo-based Honda Motor Co. reported an operating profit of 176.01 billion yen, about eight times more than the previous year, as a result of 2.44 trillion yen sales which jumped 42.1 percent over the same period last year, signalling a recovery from last year’s earthquake and tsunami disaster, reported Xinhua.

The earthquake and tsunami in northeastern Japan and the flooding in Thailand last year disrupted parts supplies and production for all Japanese auto-makers. Honda’s profit for the April-June period last year stood at 31.7 billion yen.

The company, however, stuck to its 470 billion yen net profit forecast for the fiscal year through March 2013. It also expects an operating profit of 620 billion yen on sales of 10.3 trillion yen for the whole fiscal year.

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