Seoul: South Korean home appliance manufacturer Coway on Friday reported its first-quarter net income of 182 billion won (US$124.3 million), representing a 31.1 percent increase from the previous year.

According to Yonhap News Agency, the company, known for its wide range of water and air purifiers and cosmetic products, disclosed in a regulatory filing that it achieved an operating profit of 250.9 billion won for the quarter. This marks an increase from the 211.2 billion won reported in the same period last year. Additionally, Coway's revenue saw a growth of 13.2 percent, reaching 1.32 trillion won.

The operating profit surpassed the average estimate by 2.7 percent, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, estimates for the net profit were not available.