TOKYO -- Mitsubishi Motors reported a 75 percent plunge in fiscal first-quarter operating profit as domestic sales slumped after it admitted to overstating the fuel economy of some of its vehicles.
Japan's sixth-largest car maker by vehicle sales posted an operating profit of 4.6 billion yen ($43.63 million) in April-June, down from 18.6 billion yen during the same quarter last year, the company said in a statement Wednesday.
Revenue fell 14 percent to 428.7 billion yen.
Mitsubishi stuck with its forecast for an annual net loss of 145 billion yen for the year to March as the fallout from the mileage-cheating scandal drags down operating profit by a whopping 82 percent.
The company said it booked an extraordinary loss of 125.9 billion yen in the first quarter as a result of the cheating.