Seongnam: GC Biopharma Corp., formerly known as Green Cross, announced a significant turnaround in its financial performance for the second quarter, reporting a net profit of 32.7 billion won (US$23.3 million). This marks a substantial recovery from a net loss of 9.1 billion won in the same period the previous year.

According to Yonhap News Agency, the company's operating profit for the April-June period surged 55.7 percent year-on-year, reaching 27.4 billion won. Additionally, the company's revenue saw a 19.9 percent increase, totaling 500.3 billion won.

The operating profit exceeded the average estimate by 2.3 percent, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. However, the net profit estimate was not provided.