By Kosaku Narioka

Toyota Motor Corp. said Wednesday that its first-quarter net profit rose severalfold, demonstrating a continued recovery from the Covid-19 pandemic.

The Japanese auto maker said net profit for the quarter ended June rose to 897.83 billion yen ($8.23 billion) from Y158.84 billion in the year-earlier period when the pandemic hurt sales globally. The quarterly net profit beat the estimate of Y696.15 billion from a FactSet poll of analysts.

Its revenue increased 72% to Y7.936 trillion.

Operating profit for Japan rose to Y518.5 billion from Y77.4 billion a year earlier and operating profit for Asia excluding Japan increased to Y166.6 billion from Y42.8 billion. North America operations posted a profit of Y248.8 billion, compared with a loss a year earlier, and European operations also recorded a profit.

Toyota kept its forecasts for car sales, revenue and net profit for the year ending March. The company continued to expect group vehicle sales of 10.6 million units this fiscal year. It expects revenue to increase 10% to Y30.000 trillion and net profit to rise 2.4% to Y2.300 trillion.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

08-04-21 0119ET