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Tue, May 21, 2019 | Last Updated 5:56 am IST

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India uncertainty to limit profit growth

India uncertainty to limit profit growth
India uncertainty to limit profit growth

Sources from Tokyo stated that Suzuki Motor Corp on Friday forecast a 1.7% rise in profit this year, anticipating limited growth due to an expected sales tax rise in japan as well as uncertainty in business conditions in its biggest market, india.

India uncertainty to limit profit growth

japan's fourth largest automaker expects operating profit of 330 billion yen ($3.01 billion) in the year through March 2020, lower than the 362.2 billion yen average of 22 analyst estimates compiled by Refinitiv. It anticipates currency volatility, particularly the rupee and euro, to also weigh on profit growth, even as it expects overall global vehicle sales to hit record highs. 

In the year just ended, profit fell 13.3% to 324.4 billion yen from the previous year's record high of 374.2 billion yen. The automaker has long acknowledged that it cannot shoulder the costs of developing electric vehicles and self-driving cars on its own, and has turned to toyota Motor Corp to supply Suzuki vehicles with its gasoline hybrid systems.

India uncertainty to limit profit growth
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