Seoul: GS Holdings on Friday reported its first-quarter net income of 291.5 billion won (US$208.2 million), marking a decline of 38.8 percent compared to the same period last year.

According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the January-March period experienced a decrease of 21.3 percent year-on-year, amounting to 800.2 billion won. Additionally, the company's sales saw a slight decline of 0.8 percent, totaling 6.23 trillion won.