Panasonic today reported its consolidated financial results for the second quarter ended September 30, 2012. The company reported operating profit of 48.8 billion yen ($613 million), higher than what company reported last year. The net loss the company attributed was amounted to 698 billion yen compared with a loss of 105.8 billion yen a year ago. The company has also revised its operating profit predictions for the year to 140 billion yen ($1.76 billion) on the basis of the slower sales. The company since from the year beginning has experienced a huge drop, over 20 percent dropped compared with an over 5 percent gain in Tokyo’s benchmark Nikkei 225.