Nissan Motor has announced a significant increase in net profit for the second quarter, driven by strong sales growth across most markets. As a result, the company has raised its earnings projections for the fiscal year.
During the three months ended September 30, net profit surged to 190.735 billion yen ($1.26 billion), surpassing last year’s figures of Y17.36 billion. This also exceeded the estimated net profit of Y90.925 billion, according to a poll conducted by data provider Quick.
The improvement in net profit can be attributed to the positive sales performance, as second-quarter revenue rose by 25% compared to the same period last year, reaching Y3.146 trillion.
Looking ahead, Nissan has revised its revenue and net profit forecasts for the fiscal year ending March 2024. The company expects net profit to climb by 76% to Y390.00 billion, compared to the previous projection of a 53% increase. Additionally, Nissan anticipates a 23% rise in revenue to Y13.000 trillion, up from the earlier forecast of a 19% increase.
Despite the optimistic outlook, Nissan has maintained its global car sales forecast of 3.7 million units for the fiscal year.
Overall, these strong financial results are driven by sales growth worldwide (excluding China) and a weaker yen, demonstrating Nissan’s resilience and ability to adapt to market dynamics.
