TOKYO (dpa-AFX) - Nippon Steel Corporation (NISTY.PK) Thursday reported profit before income taxes of 231.549 billion yen for the first quarter, 5.4 percent lower than 244.793 billion yen in the same quarter a year ago, hurt mainly on drop in revenue.
Operating profit declined 4.7 percent to 236.977 billion yen from 248.7 billion yen last year.
Net profit was 167.023 billion yen or 150.85 yen per share, down from 188.477 billion yen or 170.47 yen per share a year ago.
Revenue for the quarter dropped 0.4 percent to 2,191.509 billion yen from 2,199.786 billion yen in the previous year.
For the first half, the company expects net profit to decline 26.7 percent to 220 billion yen, and revenue to drop 0.3 percent to 4.400 billion yen.
For the full year, the company expects net profit to decrease 38.1 percent to 340 billion yen and revenue to be down 0.8 percent to 8,800 billion yen.
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