YOKOHAMA (dpa-AFX) - Nissan Group (NSANF.PK, NSANY.PK) reported Wednesday that its first-quarter net income attributable to owners of the parent declined 10.7 percent from last year to 136.4 billion Japanese yen. In US dollar terms, net income edged up 0.3 percent to $1.3 billion.
Operating profit in yen terms declined 9.2 percent to 175.8 billion yen, but increased 2 percent in dollar terms to $1.6 billion. Operating profit margin was 6.6%.
Net revenues for the quarter dropped 8.4 percent from last year to 2.65 trillion, while in dollar terms, it grew 2.9 percent to $24.6 billion.
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan's joint-venture operations in China, net revenue was 2.89 trillion yen. Operating profit was 209.0 billion yen, resulting in a 7.2% operating profit margin.
Further, for the fiscal year ending March 31, 2017, the company continues to expect attributable net Income of 525.0 billion yen or $5.0 billion, operating profit of 710.0 billion yen or $6.8 billion and net revenue of 11.8 trillion yen or $112.4 billion.
In Tokyo, Nissan shares gained 4.94 percent today to close at 1,046.50 yen.
Copyright RTT News/dpa-AFX