C Citigroup Inc

Italian car maker Fiat SpA (F.MI), the parent of Chrysler Group (C.XX), said Thursday that it revised its first-quarter net loss to 173 million euros ($236.4 million) from the previously approved EUR319 million, in order to reflect the acquisition of a 41.5% stake in Chrysler.

The company said the amendment, approved by the Fiat board, will result in a non-cash gain of EUR223 million. Fiat added that the gain has no cash impact and doesn't affect the final net equity of the group.

Fiat Group said in May that it swung to a net loss in the first three months of the year from a net profit of EUR31 million for the corresponding period last year. The loss included one-time costs connected to Fiat's payoff of a note held by a United Auto Workers union healthcare trust, and currency turmoil in Venezuela. Without those costs, Fiat said it would have earned EUR71 million.

Write to Manuela Mesco at manuela.mesco@wsj.com

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