IHI reports USD25.6 million net loss for Q1
Company makes no change in FY2019/20 financial outlook
IHI Corporation has reported net loss of JPY2.8 billion in the first quarter ended 30 June 2019 compared to net profit of JPY6.1 billion a year earlier, the company said in a press release earlier this month. Operating income declined by 92.5% year-over-year (y/y) to JPY957 million. IHI witnessed net loss and sharp decline in operating profit mainly due to 16.6% y/y drop in net sales to JPY281.2 billion. The company also witnessed 9% y/y drop in order intake to JPY220 billion.
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