Nissan reports 38 percent rise in profit on healthy China, US, Europe sales; raises forecasts

Nissan's profit for the July-September quarter zoomed 38 percent higher on healthy sales in China, the U.S. and Europe, prompting the automaker to raise its full-year projections.

Yokohama, Japan-based Nissan Motor Co. reported Monday a fiscal second quarter profit of 172.8 billion yen ($1.4 billion), up from 124.9 billion yen the year before.

Quarterly sales at the Japanese automaker allied with Renault SA of France rose 13 percent to 3.034 trillion yen ($25.2 billion).

Nissan says it now expects a 535 billion yen ($4.4 billion) profit for the full year through March 2016. It credited strong sales, cost cuts and a favorable exchange rate.

The maker of the Leaf electric car and Infiniti luxury models had earlier expected a 485 billion yen ($4 billion) profit.