Toyota quarterly operating profit jumps
Finance Secretary RS Gujral said that there was no question of the government negotiating with any company on the tax amendments proposed in the Finance Bill for 2012-13.
Toyota Motor Corp, Japan's top automaker, said quarterly operating profit jumped more than five-fold to $3 billion and would treble in the current year as vehicle production roars back from post-disaster lows.
January-March operating profit increased to 238.5 billion yen beating a consensus estimate of 223 billion yen in a survey of 23 analysts by Thomson Reuters I/B/E/S. Fourth-quarter net profit jumped to 121 billion yen from 25.4 billion yen a year ago.
For the year to next March, Toyota forecast operating profit would rise to 1 trillion yen, its highest since the global financial crisis. Consensus forecasts have been for a full-year profit of 990 billion yen.
Toyota shares have gained more than a third since the broad market trough in late-November, outperforming local rivals Nissan and Honda, U.S. competitors General Motors and Ford and Volkswagen, but lagging BMW's 41 percent jump. The main Topix share index is up by a tenth over the same period.
Copyright Thomson Reuters 2012