TOKYO, Apr 26: Honda Motor Co Ltd posted a 6.6 percent year-on-year jump in quarterly net profit, helped by the yen’s rapid depreciation and strong sales of its Accord and CR-V models in its biggest market the United States.
In the quarter ended March 31, the third biggest-selling Japanese automaker booked net profit of 75.7 billion yen ($760.88 million), compared with 71.5 billion yen it booked in the same period last year.
The fourth-quarter figure was below an average estimate of 95.62 billion yen net profit among five analysts surveyed by Thomson Reuters I/B/E/S.
The Japanese currency has lost about 14 percent of its value versus the dollar since the start of 2013, helping carmakers export vehicles from Japan more cheaply and convert profits made overseas into yen at a more favourable rate. ($1 = 99.4900 Japanese yen)
(AGENCIES)
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