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Nissan Motor fiscal Q1 profit climbs 46.4% YOY

Nissan Motor Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥21.70 per share, an increase of 46.4% from ¥14.82 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥90.96 billion, a gain of 46.4% from ¥62.11 billion in the year-earlier period.

The normalized profit margin increased to 3.7% from 2.8% in the year-earlier period.

Total revenue climbed 10.4% on an annual basis to ¥2.466 trillion from ¥2.233 trillion, and total operating expenses increased 10.3% from the prior-year period to ¥2.343 trillion from ¥2.125 trillion.

Reported net income increased 36.7% year over year to ¥112.13 billion, or ¥26.75 per share, from ¥82.03 billion, or ¥19.57 per share.

As of July 30, US$1 was equivalent to ¥102.83.