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Honda Motor Co said on Wednesday its operating profit for the July-to-September quarter jumped 70 per cent from a year earlier to 171.4 billion yen ($ 1.75 billion) due to the yen’s depreciation and strong sales in North America.
Honda said its sales rose 27.3 per cent to 2.89 trillion yen for the quarter while a net profit climbed 46.4 per cent to 120.3 billion yen.
On Monday, Honda said its overseas production rose 8.1 per cent from a year earlier to 1.72 million units for the first half of the current financial year, the largest volumes ever for corresponding periods. Domestic production fell 21.6 per cent to 378,588 for the April-to-September period.
Honda maintained its net profit forecast at 580 billion yen and operating profit outlook at 780 billion yen for the full financial year through March 2014, while sales were predicted at 12.1 trillion yen.
Shares in Honda closed up 1.28 per cent on Wednesday ahead of the earnings report, which was released after the markets closed.
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