Panasonic says nine-month net profit plunges 42% to $1.19b

TOKYO

Japanese electronics giant Panasonic said Tuesday that its nine-month net profit plunged 42 per cent to $1.19 billion (Dh4.4 billion), largely due to one-off gains including a pension scheme change a year earlier. The Osaka-based company said its net profit for the April-September period came to 140.4 billion yen (Dh4.4 billion) while revenue ticked up 1.0 per cent to 5.7 trillion yen. The firm left unchanged its fiscal year to March profit forecast of 140 billion yen.