Mazda Motor Corp. posted a 60-percent jump in net income in its fiscal second quarter ended Sept. 30, 2013 to JPY19.53 billion ($198.5 million), on a 24-percent surge in revenue to $6.5 billion. The Japanese carmaker also logged a fourfold increase in operating profits to $381.3, boosted by a $316.6 million currency gain.
Mazda also managed to more than quadruple its net income in its fiscal first half ended Sept. 30, 2013, to $2.54 billion, with revenue surging 23 percent to $12.77 billion. The carmaker benefited significantly from a favorable yen exchange rate since it is highly dependent on exports from Japan.
In the April-September 2013 period, Mazda had an average transaction rate of JPY88 to the dollar, compared to JPY79 to the dollar a year earlier. This means that for every dollar received from sales, Mazda booked JPY88 yen in revenue in the recent fiscal first half, compared to JPY79 a year earlier.
The Japanese carmaker managed to sharply reduce its operating loss in North America to $25.7 million in the first half of this fiscal year, from $264 million in the same period in previous fiscal year.
The carmaker saw its operating income in Europe in the fiscal first half rise more than tenfold to $39.2 from $3.6 million a year earlier. Mazda also managed to more than double its operating income in Japan to $698.4 million. Mazda sold 631,000 units around the world in the fiscal first half, reflecting a 3 percent rise.