TOKYO (dpa-AFX) - Nippon Steel Corporation (NISTY.PK, NISTF.PK), a Japanese steel major, on Thursday posted a rise in earnings for the first quarter, supported by an increase in revenues.
For the quarter ended in June, the Tokyo-headquartered firm posted a profit of 230.97 billion yen or 224.28 yen per share, compared with 162.12 billion yen or 176.08 yen per share a year ago.
Profit before income taxes was at 334.01 billion yen, higher than 250.38 billion yen of previous year quarter. Operating earnings moved up to 338.87 billion yen, from 256.34 billion yen, posted for the first quarter of 2021.
The steel-maker registered revenues of 1.919 trillion yen, compared with 1.503 trillion yen during the corresponding quarter of last year.
Looking ahead, for the first-half, the company expects to post a profit of 300.00 billion yen, with basic net income per share of 326 yen, on sales of 4.00 trillion yen.
For the fiscal 2022, Nippon projects to record a profit of 600.00 billion yen, with basic EPS of 652 yen, on sales of 8.00 trillion yen.
For the second quarter, the Japanese firm also intends to pay a dividend of 70 yen per share, unchanged from last year.
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