Suzuki Q1 profit down 80 pct, keeps forecast

TOKYO Aug 3 (Reuters) - Suzuki Motor Corp (7269.T), Japan's fourth-biggest automaker, posted an 80 percent drop in quarterly operating profit hit by a stronger yen and declining sales, and it kept its annual forecasts amid an uncertain outlook for global vehicle demand.

Suzuki, known for its penny-pinching expertise, made an operating profit of 6.9 billion yen ($73 million) in the April-June quarter, down from a profit of 33.8 billion yen a year earlier and compared with a consensus estimate for a 2.9 billion yen profit in a survey of six analysts by Thomson Reuters.

It earned a net 2.1 billion yen in the first quarter, down 92 percent from 26.0 billion yen a year ago.

For the financial year to March 31, 2010, Suzuki left its operating profit forecast at 10 billion yen and its net forecast at 5 billion yen.

Consensus forecasts from 17 analysts call for a much higher operating profit of 41.3 billion yen.

Suzuki has been able to offset some of the sales plunge in developed markets with big growth in India, where it is the top-selling brand through unit Maruti Suzuki India Ltd (MRTI.BO).

Shares in Suzuki have risen 95 percent in the year to date, outperforming Tokyo's transport subindex, .ITEQP.T which is up 54 percent. ($1=94.73 Yen) (Reporting by Chang-Ran Kim; Editing by Chris Gallagher)