Nokia turns Q1 profit with 20% surge in sales

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.

Updated on: Apr 30, 2015, 12:36:45 IST

AP | By HT Correspondent, Helsinki

Prefer HTon Google

Share via

Copy link

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.

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.