SEOUL, Kumho Petro Chemical Co. on Tuesday reported its first-quarter net profit of 102.6 billion won (US$75.5 million), down 24.9 percent from a year earlier.
The company said in a regulatory filing that it posted 78.6 billion won in operating profit for the quarter, compared with 132 billion won a year ago. Revenue fell 3.1 percent to 1.66 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 75.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency