BR100 3,787 Increased By ▲ 50 (1.35%)
BR30 19,375 Increased By ▲ 273 (1.43%)
KSE100 36,619 Increased By ▲ 428 (1.18%)
KSE30 15,901 Increased By ▲ 207 (1.32%)
COVID-19 TOTAL DAILY
CASES 251,625 0
DEATHS 5,266 0
Sindh 105,533 Cases
Punjab 87,043 Cases
Balochistan 11,185 Cases
Islamabad 14,108 Cases
KP 30,486 Cases
Business

Mazda set to post 70% drop in Q1 operating profit

TOKYO:  Mazda Motor Corp saw a drop of around 70% in its first-quarter operating profit, as the Japanese automaker conti

Jul 31 2019

TOKYO:  Mazda Motor Corp saw a drop of around 70% in its first-quarter operating profit, as the Japanese automaker continues to struggle in the United States, its biggest market, the Nikkei business daily reported on Wednesday.

Japan's No. 5 automaker is planning to report an operating profit of around 10 billion yen ($92.11 million) for the April-June quarter, the Nikkei said, down from 33.1 billion yen a year ago and lower than forecasts for 18.5 billion yen from analysts polled by Refinitiv.

Mazda is due to announce its first-quarter earnings on Thursday.

Such an operating profit would mark Mazda's weakest first-quarter performance since the June 2012 quarter.

Copyright Reuters, 2019