TOKYO (dpa-AFX) - Panasonic Holdings Corporation (PCRFY.PK) Tuesday reported profit before income taxes of 395.661 billion yen for the 9-month period ended December 31, 2024, higher than 368.784 billion yen in the comparable period a year ago, primarily helped by growth in revenue.
Operating profit rose 8.8 percent to 348.308 billion yen from 320.257 billion yen in the prior year.
Net profit, however, declined to 288.406 billion yen or 123.51 yen per share from last year's 399.178 billion yen or 170.96 yen per share. This was primarily attributed to decreased income tax in fiscal 2024 with the company's resolution to liquidate Panasonic Liquid Crystal Display Co., Ltd. (PLD) through Special Liquidation and to waive PLD's debt.
Sales for the period grew 1.6 percent to 6,403.897 billion yen from 6,300.306 billion yen a year ago.
Looking ahead, the company has lowered its fiscal 2025 sales outlook to 8,300 billion yen from the previous forecast of 8,600 billion yen. It continues to expect net profit of 310 billion yen or 132.80 yen per share for the year.
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