Japan's second-largest minicar maker Suzuki Motor Corp quadrupled its annual operating profit forecast on Monday as sales soared in its main Indian market, setting it apart from other Japanese automakers that have depended heavily on the sinking US market. A weaker-than-expected yen and cost cuts also helped the company.

Net income may total 15 billion yen ($167 million) in the year ending 31 March 2010, compared with an initial forecast of 5 billion yen, the carmaker said in a statement. Suzuki's revenue estimate was unchanged at 2.3 trillion yen.

Suzuki raised its operating profit outlook to 40 billion yen ($445 million) for the year, from an initial forecast of 10 billion yen.

Suzuki, like its South Korean rival Hyundai Motor Co, has been a major beneficiary of a global shift in consumer preference towards smaller cars, partly fanned by government incentives on purchases of less polluting vehicles.

The huge presence of both carmakers in India, where the economy's resilience and tax incentives have jumpstarted demand for cars, has helped them weather the storm better than most others in the industry.

Suzuki revised its full-year forecast for the yen to 93 against the dollar from 90. A weaker yen increases Suzuki's earnings from sales in overseas markets, including India, Suzuki's biggest. The company raised its full-year estimate for overseas vehicle sales 5.9 per cent.