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Suzuki Motor Q1 Net Profit Down, Operating Profit Climbs; Backs FY22 Outlook - Quick Facts

Japanese automaker Suzuki Motor Corp. (SZKMF.PK, SZKMY.PK) reported Friday that its first-quarter profit attributable to owners of parent decreased 31.2 percent to 58.28 billion yen from last year's 84.75 billion yen. Earnings per share declined to 120.01 yen from 174.52 yen a year ago.

Operating profit, however, grew 36.8 percent to 74.51 billion yen.

Net sales climbed 25.8 percent to 1.06 trillion yen from 845.35 billion yen a year ago.

Net sales and operating profit increased year-on-year, mainly owing to improvement in sales mix/price, increase in volume mainly in India, and the impact of the exchange rates.

Domestic net sales decreased due to the impact of the production decrease. However, overseas net sales increased 39.2 percent.

For fiscal 2022, the company continues to expect profit attributable to be 135 billion yen or 277.99 yen per share, down 15.8 percent from the previous year.

Further, operating profit is still expected to increase 1.8 percent to 195 billion yen, and net sales would increase 9.3 percent to 3.90 trillion yen.

In Japan, Suzuki Motor shares were trading at 3,840 yen, down 2.17 percent.

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