Chinese EV maker BYD sees first-quarter profit soar on strong sales

BYD Co. HK:1211 posted a more than five-fold rise in net profit for the first quarter, driven by strong sales growth.

The electric-vehicle maker’s net profit in the first three months of the year rose to 4.13 billion yuan ($596.5 million) from CNY808.4 million in the same period last year.

However, profit retreated from the CNY7.30 billion…