Japanese carmaker Honda Motor’s net profit quadrupled during the April-June 2012 quarter (Q1) to JPY131.72bn ($1.62bn) when compared to the JPY31.80bn ($406m) recorded during the Q1 2011.
The rise in profits was attributed to the sales recovery in North America and Japan as well as completely restored production following the Tsunami last year.
Honda reported sales increase in across the key regions except Europe selling 849,000 vehicles for the quarter, up from 458,000 a year earlier.
Honda's sales increased by 42.1% to JPY2.436 trillion ($31.12bn) from JPY1.715 trillion ($15.01bn) and operating profit also rose to JPY176.01bn ($2.24bn) from JPY22.58bn ($284.69m).
During the full fiscal year, Honda upheld net profit forecast of JPY470bn ($6bn), an operating profit outlook of JPY620bn ($7.9bn) and a sales anticipation of JPY10.300 trillion ($131.61bn).
