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CORRECTED-Higher demand in Japan, Europe helps JA Solar post profit
May 8, 2014 / 11:25 AM / 4 years ago

CORRECTED-Higher demand in Japan, Europe helps JA Solar post profit

(Corrects net loss figure in paragraph 2 to $33.3 million from $102.4 million. Fixes syntax in headline)

May 8 (Reuters) - China’s JA Solar Holdings Co Ltd posted a first-quarter profit, compared with a year-earlier loss, driven by higher demand for its panels in Japan and Europe.

The company posted a net profit of $13.7 million, or 23 cents per American depositary share (ADS), in the quarter ended March 31, compared with a net loss of $33.3 million, or 85 cents per ADS, a year earlier.

Revenue rose about 36 percent to $366 million. (Reporting By Sneha Banerjee in Bangalore; Editing by Sriraj Kalluvila)

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