16:02 - 9.08.2023

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The net profit of Japan's Honda Motor amounted to 363.069 billion yen (about $ 2.5 billion) in the first quarter of the 2023-2024 fiscal year ended June 30, an increase of 2.4 times year-on-year.

ABC.AZ reports, citing the company's financial statements that earnings per share rose 219.06 yen ($1.53) from 87.23 yen ($0.6) a year earlier.
Honda's revenues grew by 20% to 4.62 trillion yen ($32 billion).

For the entire fiscal year ending March 31, the company's revenues are expected to grow by 7.6% to 18.2 trillion yen ($127 billion). Net profit for the year is forecast to be 800 billion yen ($5.6 billion), up 22.8%.

Honda Motor was founded in 1946. Until the 1960s, the company was exclusively engaged in the production of motorcycles. The company has been able to establish itself as one of the leading Japanese automakers in the international market since the 1970s.