It posted its first quarterly profit since 2007 in the first quarter, U. S. auto giant General Motors Co. said on Monday.

Its global revenue grew to $31.5 billion, up 40 percent from a year ago, with a net income of $865 million and an operating profit of $1.2 billion, GM further said.

According to company officials, GM North America posted earnings before interest and taxes of $1.2 billion in the first quarter, up from a loss of $3.4 billion in the previous quarter. In Europe, GM posted a loss of $500 million, an improvement over a loss of $800 million in the previous quarter.

Chris Liddell, GM's vice chairman and chief financial officer, said in a statement, "We're pleased with our first-quarter performance, in particular achieving profitability."

It was further reported that last year, in the midst of a prolonged recession, GM and rival American car company Chrysler Group went through bankruptcy proceedings to radically scale down their operations. GM has since shed or shut down the Hummer, Saab, Saturn and Pontiac brands.

It emerged from bankruptcy with about $6.7 billion in government loans, which it has paid off. (With inputs from Agencies)