Panasonic's Q1 profit increases 16.9pc | 2017-08-01 |

Panasonic's Q1 profit increases 16.9pc

31st July, 2017 09:36:01 printer

TOKYO: Japan's Panasonic Corp on Monday reported a 16.9 per cent increase in first-quarter operating profit, mostly in line with analyst estimates, as a shift to advanced automotive parts starts to reward the electronics giant.

Panasonic said April-June profit rose to 83.93 billion yen (S$1.03 billion) from 71.81 billion yen a year earlier. That compared with the 86.14 billion yen average of 9 analyst estimates in a poll by Thomson Reuters, reports The Business Times.

The firm maintained its 335 billion yen operating profit forecast for the year ending March, versus the 344.23 billion yen average of 17 analyst estimates.