The net profits of Toyota advancing 93.6% in first fiscal quarter

SAO PAULO-the Japanese automaker Toyota closed the first quarter of the fiscal year 2014, closed in June, with net profit of 562.19 billion yen (US $ 5.66 billion), 93.6% higher than a year earlier. The numbers are the result of favourable moment with the weaker yen and cost-control strategy, despite slow sales in the Japanese market.
Tomohiro Ohsumi/Bloomberg
Net revenues totaled 6.255 billion yen in the period, representing a 13.7% over same period in 2012. Aided by an aggressive cost-cutting program and improve efficiency, the company's operating profit grew 87.9% in the quarter and came to 663.38 billion yen.
The automaker sold 2.231 million vehicles in the three months ended June 30, 1.6% indent before the same period last year.
Toyota follows a path of recovery after difficult years, which included an earthquake and a tsunami in Japan in 2011, which hampered the purchase of materials to local partners, in addition to large global recalls that scratched his image to consumers.
The Japanese automaker expects 24 trillion yen in sales in the fiscal year that ends in March 2014, or 9% above the result of the previous calendar. Initially, the company provided an amount of 23.5 trillion yen for the period.