Honda profit recovers from floods

TOKYO (Reuters) - Honda Motor Co Lt

Honda Motor's net profit for the nine months to December slumped by almost three-quarters from the previous year due to Japan's March disasters, huge floods in Thailand, and the high yen, it said on Tuesday.Net profit for the period fell 71.4 percent to 139.89 billion yen ($1.84 billion) from 489.53 billion yen, Honda said.Sales were down 17.6 percent to 5.54 trillion yen and operating profit fell 77.2 percent to 119.39 billion yen.

Zacks.com submits: Honda Motor Co. (HMC) posted a 40% decline in profit, reaching ¥81.12 billion ($995 million) or ¥45.01 (55 cents) per share in the third quarter of its fiscal 2011 from ¥134.63 billion or ¥74.19 per share in the same quarter of prior fiscal year.

Honda, announces a 41% drop in quarterly profit, as it continues to feel the impact of Japan's natural disasters and the floods in Thailand.

Honda Motor, Japan's second largest automaker, said Wednesday profits surged 95.9 percent in the fiscal year ended March, as Japanese automakers continue to recover from the economic crisis.The auto giant announced a profit of 268.4 billion yen (2.87 billion US dollars) in the fiscal year while also overseeing a return to profit in the fiscal fourth quarter after suffering a loss from the same period a year ago.Honda said fourth-quarter profit amounted to 72.1 billion yen compared to a loss of 180 billion yen the previous year.