Seoul: Doosan Fuel Cell Co. on Wednesday reported its first-quarter net loss of 10.1 billion won (US$7.1 million), remaining in the red compared with a year ago. The company said in a regulatory filing that it posted an operating loss of 11.6 billion won for the January-March period, compared with a profit of 1.6 billion won a year ago. Revenue rose 214.8 percent to 99.7 billion won.

According to Yonhap News Agency, despite the significant increase in revenue, Doosan Fuel Cell could not avoid losses in the first quarter. The substantial rise in revenue indicates robust sales growth, but the operating loss highlights challenges in managing costs or investments. The company will need to address these financial setbacks to achieve profitability in the upcoming quarters.