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JinkoSolar posts net profit as US, Japan shipments rise
May 27, 2014 / 11:20 AM / 3 years ago

JinkoSolar posts net profit as US, Japan shipments rise

May 27 (Reuters) - JinkoSolar Holding Co Ltd, a Chinese solar panel maker, posted a quarterly net profit as shipments rose to higher margin markets such as Japan and the United States.

JinkoSolar reported a net income of $1.5 million attributable to shareholders for the first quarter ended March 31 compared with a net loss of $20.7 million, a year earlier.

On a per American depositary share (ADS) basis, the company’s net loss narrowed to 20 cents from 92 cents, a year earlier.

Revenue rose 73 percent to $323.9 million.

Reporting by Anannya Pramanick in Bangalore; Editing by Kirti Pandey

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