Rico Auto expects to post first annual profit in three years
Rico Auto Industries Ltd., an Indian supplier of parts to General Motors Co. and Ford Motor Co., expects to post its first annual profit in three years as demand for cars and motorcycles surge in the South Asian nation.
Honda says its profit for the October-December quarter soared fivefold from the previous year to 134.6 billion yen as it slashed research expenses and other costs to offset declining sales.