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Honda Motor fiscal Q1 profit climbs 19.1% YOY

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Honda Motor fiscal Q1 profit climbs 19.1% YOY

Honda Motor Co., Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥77.28 per share, an increase of 19.1% from ¥64.87 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥139.28 billion, a gain of 19.1% from ¥116.91 billion in the year-earlier period.

The normalized profit margin rose to 4.7% from 4.1% in the year-earlier period.

Total revenue climbed 5.4% on an annual basis to ¥2.988 trillion from ¥2.834 trillion, and total operating expenses grew 5.3% on an annual basis to ¥2.790 trillion from ¥2.649 trillion.

Reported net income grew 19.6% from the prior-year period to ¥146.51 billion, or ¥81.29 per share, from ¥122.50 billion, or ¥67.97 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.