Nissan reports $1.07 billion October-December 2011 profit

PanARMENIAN.Net - Nissan Motor Co.'s fiscal third quarter profit rose 3.2 percent on healthier sales that offset production damage from flooding in Thailand as well as a battering on earnings from a strong yen.

Yokohama-based Nissan on Wednesday, Feb 8, reported October-December profit of 82.7 billion yen ($1.07 billion), up from 80.1 billion yen the same period the previous year.

The Japanese automaker allied with Renault SA of France sold 1.2 million vehicles worldwide during the quarter, an increase of 19.5 percent on year.

Quarterly sales surged 10.9 percent to 2.331 trillion yen ($30.27 billion).

Nissan, which makes the March subcompact and Infiniti luxury models, kept its forecast for the fiscal year through March 2012 unchanged at a 290 billion yen ($3.8 billion) profit.

Nissan also makes the Leaf electric vehicle, which it said was the best-selling electric vehicle ever, having sold 22,000 Leaf cars worldwide last year.

Nissan plans to start selling the Leaf in more places, including Europe this year.