Nissan reports net income of 136.4 billion yen for Q1, FY2016

Nissan Motor Co has announced its financial results for the three-month period to June 30, 2016.

Operating profit was 175.8 billion yen (Rs 9,282 crore) for the period, representing a 6.6% margin on net revenues of 2.65 trillion yen (Rs 137,800 crore). On a constant currency basis, operating profit was 267.0 billion yen (Rs 13,884 crore), up 37.8%.

“Nissan has delivered solid results in the first three months of the fiscal year despite recent currency headwinds and continued emerging-market volatility,” said Carlos Ghosn, president and chief executive officer. “Encouraging demand for core products, particularly in North America, and our continued focus on cost efficiencies contributed to an improved underlying performance, making us well placed to deliver our full-year net income guidance. This reflects our cost-discipline, ongoing product offensive and the benefits of our Alliance strategy.”

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 (Rs 150,280 crore). Operating profit was 209.0 billion yen (Rs 10,868 crore), resulting in a 7.2% operating profit margin.