Seoul:<Text>

Hyosung Heavy Industries Co. has announced its net profit for the first quarter, revealing a decrease of 11.9 percent to 91.3 billion won (US$61.5 million). This decline comes despite a significant increase in operating income and sales during the same period.

According to Yonhap News Agency, the company's operating income for the January-March period surged by 48.8 percent, reaching 152.3 billion won. Additionally, sales experienced a substantial increase, rising 26.2 percent to total 1.35 trillion won. Despite these gains, the net profit figures fell short of market expectations.

Analysts had anticipated a higher net profit, with the average estimate set at 134 billion won according to a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. The reported figures highlight a discrepancy between the company's performance and market predictions, pointing to potential challenges faced by Hyosung Heavy in meeting analyst f orecasts.