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Suzuki Motor fiscal Q1 profit climbs 7.4% YOY

Suzuki Motor Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥67.11 per share, an increase of 36.6% from ¥49.14 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥29.62 billion, a gain of 7.4% from ¥27.58 billion in the year-earlier period.

The normalized profit margin increased to 3.9% from 3.6% in the year-earlier period.

Total revenue decreased year over year to ¥754.03 billion from ¥772.85 billion, and total operating expenses decreased on an annual basis to ¥694.87 billion from ¥717.69 billion.

Reported net income increased 19.7% on an annual basis to ¥37.96 billion, or ¥86.01 per share, from ¥31.70 billion, or ¥56.50 per share.

As of Aug. 10, US$1 was equivalent to ¥101.31.