Isuzu Motors Q1 Profit Falls

Isuzu Motors Ltd. (ISUZY.PK), a Japanese commercial vehicle and diesel engine maker, on Friday posted a decline in earnings for the first quarter.

For the three-month period to June, the Yokohama headquartered firm reported a net profit of 36.05 billion yen or 46.51 yen per share, compared with 46.42 billion yen or 60.05 yen per share a year ago.

Profit before income taxes was at 58.36 billion yen, lesser than 61.81 billion yen of previous year period.

Operating earnings were at 54.77 billion yen, compared with 59.33 billion yen, posted for the first quarter of 2022.

Selling, general and administrative expenses moved up to 74.85 billion yen, from last year's 47.99 billion yen.

The company registered cost of sales at 558.57 billion yen as against 422.27 billion yen, reported for the first quarter of last fiscal.

Isuzu Motors registered a rise in sales to 688.20 billion yen, from last year's 529.60 billion yen.

Looking ahead, for full-year, the vehicle maker expects a net income of 127.00 billion yen or 163.84 yen per share, with an operating income of 200.00 billion yen, on sales of 3.000 trillion yen.

For the next quarter, the firm intends to pay a dividend of 33 yen per share against last year's dividend of 29 yen per share, with a projection for a year-end dividend of 33 yen per share, compared with last year's 37 yen per share.

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