TOKYO - Suzuki Motor Corp, Japan's fourth-biggest carmaker, tripled its quarterly operating profit as sales soared in the Indian market, and it lifted its annual forecast closer to market expectations.
Suzuki, owned 19.9 percent by Germany's Volkswagen AG , reported a 17.99 billion yen ($201 million) operating profit for October-December, compared with 5.78 billion yen profit a year ago.
The result fell a bit short of the average estimate of 19.40 billion yen from two analysts polled by Thomson Reuters I/B/E/S/.
Suzuki, like South Korean rival Hyundai Motor Co, has been a major beneficiary of a global shift in consumer preference towards smaller cars, partly fanned by government incentives for purchases of environment-friendly cars.
Suzuki, known for its Swift and Alto hatchback cars, raised its operating profit outlook to 50 billion yen for the year ending in March, from a prior forecast of 40 billion yen.
The consensus forecast from 14 analysts put Suzuki's operating profit for the year at 65.91 billion yen.
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