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Chrysler reports first quarterly profit since ‘09

Chrysler reports first quarterly profit since ‘09
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First Published: Mon, May 02 2011. 06 14 PM IST
Updated: Mon, May 02 2011. 06 14 PM IST
Detroit: Chrysler Group LLC reported its first quarterly profit since the company emerged from a US-funded bankruptcy nearly two years ago and came under the management control of Italian automaker Fiat SpA.
Its first-quarter net income came to $116 million, compared with a net loss of $197 million a year earlier.
Revenue shot up 35% to $13.1 billion, spurred by the company’s 16 revamped models, including the Grand Cherokee and the Chrysler 300.
The company reported an operating profit of $477 million in the first quarter, compared with $143 million a year earlier.
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First Published: Mon, May 02 2011. 06 14 PM IST