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JA Solar posts profit on higher demand for modules
August 20, 2014 / 11:41 AM / 3 years ago

JA Solar posts profit on higher demand for modules

Aug 20 (Reuters) - China-based solar products maker JA Solar Holdings Co Ltd reported its third-straight quarterly profit, helped by higher prices and robust demand for modules.

The company reported a net profit of $6.5 million, or 10 cents per American Depositary Share (ADS), in the second quarter ended June 30, compared with a loss of $21.3 million, or 58 cents per ADS, a year earlier.

Revenue rose 53 percent to $390.5 million.

Total shipments rose to 681.8 megawatts (MW) from 463.7 MW a year earlier. The company shipped 638.1 MW in the first quarter.

JA Solar, which makes solar modules and cells, began reporting profits from the fourth quarter of last year as demand from China and global panel prices started to improve.

Prior to that, the company had not reported a profit since the second quarter of 2011. (Reporting By Shubhankar Chakravorty in Bangalore; Editing by Simon Jennings)

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