Renesas Electronics Corporation (RNECF,6723.T) on Thursday reported improved profit in the third quarter, despite weaker revenue, mainly aided by a reduction in sales costs and other expenses. On the Tokyo Stock Exchange, the shares were trading 4.01 per cent lower at 1,829.50 Yen.
For the three-month period ended September 30, the profit attributable to owners of parent climbed to 106.26 billion yen from 57.71 billion yen a year ago.
On a diluted basis, per share earnings increased to 58.04 yen from 31.93 yen in the prior year.
Pre-tax profit for the period rose to 120.05 billion yen from 68.71 billion yen last year.
However, the revenue for the third quarter slipped to 335.36 billion yen from 345.28 billion yen a year ago.
Looking ahead for the full year, the company expects the revenue to be in the range of 1,300.125 billion yen to 1,315.12 billion yen, with a year-on-year percentage decline in the range of 3.6 per cent to 2.5 per cent.
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