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Renesas quarterly profit more than doubles despite fire

Japanese chipmaker tries to make up for lost time amid growing demand

Renesas operates as a "fab-lite" manufacturer, outsourcing part of its production to foundries such as Taiwan's TSMC. (Source photos by Reuters and Renesas/Kyodo)

TOKYO -- Japanese chipmaker Renesas Electronics on Wednesday said that its operating profit more than doubled in the January to March quarter, despite a fire at one if its plants that brought production to a halt for four weeks.

The company's three-month operating profit came to 30.1 billion yen ($277 million) as sales grew 14% to 203 billion yen.

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