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Nissan posted better-than-expected quarterly profit

Nissan Motor Co. reported a net income of JPY30.8 billion ($380 million) for the first quarter ended March 31, 2011, compared to a net loss of JPY11.6 billion for the same period last year.

The company’s first quarter results exceeded the JPY23 billion average estimates of five analyst surveyed by Bloomberg. In addition, the company achieved sales of JPY2.35 trillion, 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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