Dongfeng Automobile Q1 net profit jumps 75-fold
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Dongfeng Automobile Co., Ltd., one of China's leading auto makers, announced Saturday that it made 186.44 million yuan (27.3 million U.S. dollars) in net profit for the first quarter of the year on the back of rising sales.
The earnings posted a 75-fold jump from the same period last year.
Revenue rose by 58.28 percent to hit 4.54 billion yuan and earnings per share hit 0.09 yuan, a rise of 75 times from a year earlier, the company said in a statement filed with the Shanghai Stock Exchange.
The company attributed the booming profits to rising sales which surged 61.35 percent year on year. Sales of light trucks and pickup trucks jumped 65.22 percent and 39.08 percent, respectively. Sales of sport-utility vehicles and multi-purpose vehicles skyrocketed 224.34 percent year on year.
The company reaped 318 million yuan in net profits last year, up 0.78 percent year on year.
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