Nittetsu Mining Q1 net sales fall despite ordinary profit gains

Nittetsu Mining reported net sales of 46.1 billion yen for Q1, down 0.8 billion yen from the prior year due to lower domestic selling prices in metallic minerals. Operating profit fell 0.9 billion yen to 3.6 billion yen, impacted by foreign exchange effects.

However, ordinary profit increased 0.4 billion yen to 4.4 billion yen as foreign exchange losses reversed into gains. Profit attributable to owners dropped 0.9 billion yen to 3.2 billion yen due to absence of prior year one-off factors.