Honda swings into black in April-June despite pandemic

© Kyodo News

Honda Motor Co. reported Wednesday a net profit of 222.51 billion yen ($2.04 billion) for the April-June quarter, swinging into the black despite uncertainty amid the COVID-19 pandemic.

The Japanese automaker had posted a net loss of 80.87 billion yen the previous year. In the first quarter of fiscal 2021, the automaker logged an operating profit of 243.21 billion yen, while sales jumped 68.7 percent from a year earlier to 3.58 trillion yen.

Honda forecast its net profit in the current business year through next March to rise 1.9 percent to 670 billion yen and operating profit to increase 18.1 percent to 780 billion yen, on estimated sales of 15.45 trillion yen, up 17.3 percent.