Seoul: Doosan Enerbility on Wednesday reported its first-quarter net profit of 60.2 billion won (US$40.8 million), marking a significant turnaround from a loss of 21.2 billion won a year earlier. This marks a notable shift to profitability for the company in this quarter.

According to Yonhap News Agency, the company announced in a regulatory filing that it recorded an operating profit of 233.5 billion won for the quarter, a substantial increase from the 142.5 billion won reported in the same period last year. Additionally, the company's revenue rose by 13.7 percent, reaching 4.26 trillion won.

The company's earnings outperformed market expectations, with the average estimate of net profit by analysts standing at 34.4 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. This positive financial performance highlights Doosan Enerbility's strong start to the year, surpassing analyst predictions and setting a promising trajectory for future quarters.