Seoul: iM Financial Group on Monday reported a second-quarter net income of 144.8 billion won (US$98.5 million), marking a 9.1 percent decrease from the same period last year. The financial group disclosed in a regulatory filing that its operating profit for the quarter was 182.7 billion won, a drop from 198.6 billion won recorded a year ago. Despite this, sales surged by 83.6 percent, reaching 4.17 trillion won.

According to Yonhap News Agency, the earnings results fell short of market expectations, as analysts had forecasted an average net profit of 150.7 billion won. The survey was conducted by Yonhap Infomax, the financial data firm associated with Yonhap News Agency.