Mubasher: Nissan Motor on Monday posted a 12.6% year-on-year jump in its profits during the fiscal year ended March 2018, after the one-time US tax overhaul, compensating for the sales decline in North America.
The Japanese automaker’s net profits surged to JPY 746.9 billion ($6.82 billion) in the 12 month-period ended March 2018, compared to JPY 663.5 billion a year earlier.
Meanwhile, Nissan's net operating income plunged 22.6% to JPY 574.8 billion ($5.25 billion) between 1 April 2017 and 31 March 2018, from JPY 742.2 billion in the previous fiscal year.
The auto giant projected its net revenues to increase 0.4% to JPY 12 trillion in the fiscal year ends 31 March 2019, while operating income is set to reach JPY 540 billion, with a net profit of 500 billion, according to Nissan’s report.
Meanwhile, the company projects a 4.5% margin drop and a decrease of 6% in the current year.