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Nissan posted better-than-expected quarterly profit

Nissan Motor Co. reported a net income of 30.8 billion yen ($380 million) for the first quarter ended March 31, 2011, compared to a net loss of 11.6 billion yen for the same period last year.

The company’s first quarter results exceeded the 23 billion yen average estimates of five analyst surveyed by Bloomberg. In addition, the company achieved sales of 2.35 trillion yen, reflecting an increase of 10 percent.

Nissan reveals positive growth in its profits while Toyota Motor Corp. recorded a decrease in earnings after the March 11 earthquake in Japan disrupted the automobile industry with the shortages of vehicle parts and electricity. Specifically, Toyota revealed a 77 percent drop in its fourth-quarter net income on Wednesday.

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