Suzuki Q3 2022/23 results

Suzuki reported a 33% increase in revenue for Q3 2022/23 as vehicle sales rose by 7.6%, boosted in particular by strong demand in India. Operating profit rose at a faster rate, up 116% to ¥103bn (US$788.8m), a margin of 8.6% compared with 5.3% a year earlier. In detail, the net increase in operating profit of ¥55.1bn reflected ¥37.4bn from mix and price;¥31.6bn from exchange rates; ¥24.7bn from volume; ¥12.8bn cost reductions; ¥(6.4)bn increase of various expenses; ¥(8.3)bn higher depreciation; ¥(11.4)bn increased R&D; and ¥(25.4)bn increased raw material costs.