(May 12, 2011) Nissan posted better-than-expected quarterly net profit after Japan's record earthquake halted factories and crimped domestic sales.

Net income was 30.8 billion yen ($380 million) for the three months ended March 31, compared with a loss of 11.6 billion yen a year earlier, beating analysts' estimates. Sales rose 10 percent to 2.35 trillion yen, the company said today.

Nissan boosted profit even as Toyota reported a drop in earnings.

CEO Carlos Ghosn has said the current quarter will be tougher for the company and its Japanese rivals as they recover from the plunge in sales and factory disruptions that followed the March 11 earthquake.

Toyota reported a 77 percent plunge in fourth-quarter net income on Wednesday.

Nissan built just 25 percent of its vehicles in Japan last fiscal year, compared with 45 percent at Toyota.

Sources: Bloomberg News, Nissan