Seoul: Doosan Co. on Wednesday reported its first-quarter net income of 11.3 billion won (US$8 million), down 95 percent from a year earlier. This significant decrease highlights the financial challenges faced by the company during the January-March period.

According to Yonhap News Agency, operating income for the first quarter was 198.5 billion won, reflecting a 42.9 percent decline compared to the same period last year. Additionally, the company's revenue decreased by 3.7 percent, totaling 4.29 trillion won. This decline in both operating income and revenue indicates a challenging market environment for Doosan Co.