Nissan Motor Co. said Monday it posted a net profit of 3.76 billion yen ($24 million) in the three months through June, making further progress in its restructuring efforts.
Nissan posted a net loss of 115.76 billion yen in the same quarter last year.
The Japanese automaker logged an operating profit of 77.89 billion yen in the April-June period, a turnaround from a loss of 79.12 billion yen a year earlier. Sales rose 9.5 percent to 2.96 trillion yen.
The company has been pushing ahead with massive streamlining efforts to restore profitability, including the closure of seven vehicle plants in Japan and overseas and the reduction of 20,000 jobs globally by fiscal 2027.
In the first quarter ended June, global sales volume fell 0.9 percent from a year earlier to 701,000 vehicles as sales in Europe dropped 14.6 percent to 64,000 vehicles. Nissan saw 9.6 percent growth in U.S. sales to 243,000 vehicles, while domestic sales grew 1.3 percent to 88,000 vehicles.
For the current business year through next March, the carmaker maintained its earnings outlook, projecting a net profit of 20 billion yen.
Nissan left unchanged its operating profit forecast at 200 billion yen, 3.4-fold from the previous year, on sales of 13 trillion yen, up 8.3 percent.
The carmaker revised downward its full-year global sales outlook to 3.15 million vehicles from 3.30 million.
