Nissan reported a 9.4 per cent rise in profit for the January-March quarter today.
The results came as the Japanese carmaker announced further investment in Russia where it is building a vehicle plant as part of its global expansion.
Group net profit at Nissan Motor totalled 152.4 billion yen (€1.04 billion) in the quarter, up from 139.3 billion yen the same period last year. Sales for the period rose 6.4 per cent to 2.64 trillion yen.
Nissan Chief Executive Carlos Ghosn, who also heads Nissan's French partner Renault, said Nissan will invest $200 million in the vehicle assembly plant in St. Petersburg, Russia, which will begin production in 2009 at a capacity of up to 50,000 units and will employ 750 people.
The company sold more than 46,000 vehicles in Russia last year, up from 28,000 in 2004. The plan still needs Russian government approval.
Nissan is the first major Japanese automaker to report first quarter earnings, and the positive results come in stark contrast to the dismal losses at US counterparts General Motors and Ford Motor.
Other Japanese carmakers such as Toyota and Honda are expected to report healthy earnings in coming weeks.
AP