Japanese automaker, Nissan Motor Co on Thursday posted a better-than-expected 155% jump in third-quarter operating profit, boosted by a weaker yen and cost management.
Operating profit for the three months ended Dec. 31 came to 133.1 billion yen ($1.01 billion), beating the average 104.79 billion yen profit estimated by nine analysts, according to Refinitiv data. That compared to a 52.2 billion yen profit in the same period a year earlier.
The Yokohama-based automaker maintained its forecast for an operating profit of 360 billion yen for the year to March 31, helped by a weaker yen that bolsters the value of overseas sales.
Nissan and Renault SA said on Monday the Japanese automaker will invest a stake of up to 15% in the French firm’s new electric vehicle unit, Ampere, as part of a long-anticipated agreement to revamp their alliance.
Nissan shares closed down 0.1% at 472.7 yen earlier in the day, before the company reported earnings.
©Copyright MOTORING WORLD INTERNATIONAL. All rights reserved. Materials, photographs, illustrations and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior written permission from Motoring World International