Washington ? Toyota on Tuesday reported a $1.2 billion quarterly profit and boosted its financial forecast for the coming fiscal year, even as it revealed it had spent $1.1 billion on recalling 8 million vehicles worldwide.

The figures illustrate just how powerful the world’s largest automaker remains despite months of turmoil over sudden acceleration cases and several probes by U.S. auto safety regulators, including a new one launched Monday into a 2005 recall. Despite the recall’s cost and lost sales, Toyota expects its next full-year profit to rise 48 percent to $3.3 billion.

The $1.2 billion profit for the quarter ending in March reversed an $8 billion loss in the same quarter of 2009, when the global auto market was bottoming out. Revenues rose 49 percent to $58 billion, slowed only slightly by a stronger Japanese yen that makes foreign sales less profitable.