Nissan posts 1.22 billion dollar first quarter profit

Jul 29, 2010 |

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Tokyo, Japan, July 29: Japan's number three automaker Nissan Motor on Thursday announced a quarterly net profit of 106.6 billion yen (1.22 billion dollars), after a 16.5 billion yen loss a year earlier.

Despite the strong quarterly result, it maintained its May forecast of a profit of 150 billion yen for the fiscal year ending March 2011.

For the first quarter, it posted an operating profit of 167.91 billion yen, compared with a modest 11.6 billion yen profit a year earlier, on sales of 2.05 trillion yen, up 35.3 percent from a year earlier, when they were 1.51 trillion yen.

Sales recovered globally in the first quarter led by Asia, where revenue jumped 102.5 percent from a year earlier to 433.7 billion yen.

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