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Updated February 2nd, 2024 at 08:30 IST

Toyota supplier Denso’s Q3 profit slumps 76%

In the same quarter a year ago, Denso had recorded a profit of 112.5 billion yen

Business Desk
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Toyota | Image:Toyota Fortuner
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Denso Q3 results: Denso, a major supplier to Toyota, reported a 76 per cent decline in third-quarter operating profit, falling short of analysts' expectations. The operating profit for the period ending in December reached 26.8 billion yen ($183.06 million), contrasting sharply with the 177.1 billion yen estimated by eight analysts surveyed by LSEG.

In the same quarter a year ago, Denso had recorded a profit of 112.5 billion yen. The company has also revised its earnings forecasts for the full year in light of these results.

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Denso Corporation, as a major supplier to Toyota, produces a wide range of automotive components and systems for Toyota vehicles. Their product portfolio includes items such as electronic components, air conditioning systems, engine management systems, fuel systems, safety systems, and various other automotive technologies. 

Denso plays a crucial role in providing the essential parts that contribute to the overall performance, safety, and efficiency of Toyota vehicles.

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(With Reuters inputs)

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Published February 2nd, 2024 at 08:30 IST

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