Nokia turns Q1 profit with 20% surge in sales

  • AP, Helsinki
  • Updated: Apr 30, 2015 12:36 IST

Buoyed by strong first-quarter growth, Nokia has turned a net profit of Rs. 1239.9 crore (177 million euros) from a loss a year earlier, despite a drop in profits in its main networks operations.

The Finnish company says revenue surged 20% in the period, to Rs. 22610.8 crore (3.2 billion euros) from Rs. 18358.1 crore (2.6 billion euros) a year earlier. Net loss in the quarter last year was Rs. 1690.452 crore (239 million euros).

CEO Rajeev Suri said on Thursday that although sales in networks grew 15%, profits fell partly because of lower software sales. But he added that Nokia networks expects a better second half in 2015, and growth in all other sectors as well.

Earlier this month, Nokia announced a major deal to acquire French networks company, Alcatel-Lucent, which could make it the leading global networks provider.

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