Mitsubishi Motors Corporation (MMTOF.PK) Thursday reported profit before taxes of 6.777 billion yen for the first quarter, significantly lower than 41.540 billion yen in the same quarter a year ago, mainly impacted by decrease in sales as well as lower non-operating income.
In the previous-year quarter, the company had recorded foreign exchange gains of 8.222 billion.
Operating profit declined to 5.638 billion yen from 35.519 billion yen last year.
Net income was 738 million yen or 0.55 yen per share, down from 29.468 billion yen or 19.82 yen per share a year ago.
Sales for the quarter decreased to 609.091 billion yen from 627.522 billion in the prior year.
For the full year, the company expects sales to increase 5.8% year-on-year to 2,950 billion yen. Net income is expected to decline 2.4% to 40 billion yen with basic EPS of 29.89 yen.
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