Seoul: Hanwha Solutions Corp. announced a net loss of 178.4 billion won (US$129 million) for the second quarter, continuing its struggle with financial losses compared to the same period last year. Despite the net loss, the company reported an operating profit of 102.1 billion won for the April-June period, a significant improvement from an operating loss of 112.2 billion won recorded in the previous year.

According to Yonhap News Agency, the company saw a 17.6 percent increase in revenue, reaching 3.11 trillion won. However, the net loss was notably higher than expected, surpassing the average estimate by 430.1 percent as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.

The report highlights the challenges faced by Hanwha Solutions Corp. despite the increase in revenue and improved operating profit, as the net loss indicates underlying issues that need to be addressed to achieve financial stability.