Chrysler Reports 2Q Profit Excluding Loan Paybacks

Chrysler Group LLC reported second-quarter net profit of $181 million, after excluding losses from paying off U.S. and Canadian government loans early, Bloomberg reported Tuesday.

The U.S. automaker majority owned by Italy’s Fiat SpA’s adjusted profit compared to a net loss of $172 million a year ago, Bloomberg said, citing the company.

Including losses from the debt repayment, Chrysler lost $370 million in the quarter, the company said.

CEO Sergio Marchionne paid off the government loans in the quarter as he works to quicken the merging of Chrysler and Fiat operations, Bloomberg reported.

Chrysler reported a first-half adjusted net profit of $297 million and a net loss of $254 million.