BYD Co Ltd has announced its second quarter financial results for the fiscal year 2010-11 today. In a statement it has informed that there has been a marginal hike in the net profit in the quarter under review against its like period a year ago. BYD Co Ltd is the leading Chinese carmaker which is backed by U. S. billionaire Warren Buffett. Buffett's Berkshire Hathaway holds 10% of state in this firm.

As per the company officials, the net profit figure has failed to reach the expectation level due to some though market situation. There has been a huge fall in the Chinese car segment during this period of time due to the global economic crisis.

BYD Co Ltd has posted a net profit of 716 million yuan ($105.4 million) for the quarter that ended in 30th June, 2010. The company has registered a net profit of 698 million yuan in the same quarter in the previous year.

Hence, there has been a hike of 2.6% in the net profit of the firm in the June quarter this year against its corresponding quarter last year.