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Nissan Motor Q1 Profit Down, Revenues Rises; Stock Up

Nissan Motor Co., Ltd. (NSANF.PK,NSANY.PK) reported Thursday that its first-quarter net income was 47.1 billion yen, lower than last year's 114.5 billion yen.

Consolidated operating profit declined to 64.9 billion yen from prior year's 75.7 billion yen. Operating profit margin was 3 percent, lower than last year's 3.8 percent.

On a management pro forma basis, which includes the proportionate consolidation of results from Nissan's joint venture operation in China, operating profit was 98.8 billion yen, equivalent to an operating margin of 4 percent.

In the first quarter of the fiscal year, consolidated net revenue grew to 2.14 trillion yen from prior year's 2 trillion yen.

Shares of Nissan Motor were gaining around 4 percent in Japan to trade at 528 yen.

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