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Honda Motor Co has registered an operating profit of 65.5 billion yen for the second quarter of this fiscal which ended on Sep 30 which is about 56% decrease from the 148.8 billion yen operating profit registered during the corresponding period last fiscal.
In addition to the unfavourable exchange rate, lower sales and higher fixed costs as a result of production cuts contributed to the figures.
The automobile major has also witnessed a decline in sales by 27.2% to be registered at 2.05 trillion yen.
Honda has set its forecast to 155 billion yen from the previous figure of 55 billion yen.
It has set a sales target of 3.4 million cars from the previous 3.3 million.
