Honda Reports Surge In Profit

Honda Motor Co

reported a strong rise in its net profit for the April-June quarter. Honda's quarterly net profit jumped to Y131.72 billion, versus Y31.80 billion, in the year-ago quarter. However, analysts were expecting a net profit of Y148.73 billion. Its sales surged 42.1% to Y2.436 trillion from Y1.715 trillion, while operating profit surged to Y176.01 billion versus Y22.58 billion. Honda maintained its full fiscal year net profit view of Y470 billion on sales of Y10.300 trillion. Honda shares closed at $32.02 yesterday.