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.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The US Centers for Disease Control and Prevention or CDC has ended recommendations for social distancing and quarantine with a view to minimize covid-19's impact on persons, communities, and health care systems. The agency also ended recommendation for test-to-stay in schools, CNN noted. Healthcare major Johnson & Johnson, which is in the middle of a talcum powder fiasco, said it is discontinuing talc-based JOHNSON'S Baby Powder globally in 2023. The company plans to transition to an all cornstarch-based baby powder portfolio. According to the company, the commercial decision to use cornstarch in all its baby powder products was made after conducting an assessment of its portfolio Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV.
Follow RTT