Suzuki on a profitable drive!
While its subsidiary in the Indian market suffered from a situation where it filed a fall in its PAT for the last quarter but the benefits of it are clearly shown in the results announced by the parent company.
It is to be mentioned here that Japan's Suzuki Motor Corp has recently announced the results for the April-June quarter and according to the numbers posted by the company, the three month period gave the company its highest quarterly profits in two years as sales zoomed in Asia.
However, the company has been still sticking to cautious guidance citing a softer euro and stiffer competition in India.
It may be noted here that the company in which Volkswagen, the leading German auto major picked a 19.9% stake last year was suffering from falling sales in the global markets but was still in a better position than its counterparts with a product line-up heavy on cheaper, small cars such as the Swift hatchback, and to its dominance in the fast-growing Indian market.
According to the numbers released by the company, it reported an operating profit of $372 million for the April-June quarter, up from $80 million a year earlier and beating the average $285 million estimated.