KEPCO Q2 net drops 80 pct on base effect

SEOUL-- Korea Electric Power Corp., a major public utility firm in South Korea, said Monday that its net profit dropped almost 80 percent in the second quarter of the year from a year earlier, mainly due to the high base effect.

Net profit reached 359 billion won (US318 million) on a consolidated basis in the April-June period, compared to a profit of 1.77 trillion won a year earlier, the company said in a regulatory filing.

Operating income also sank 69 percent on-year to 847 billion won, with sales also down 2.6 percent to 12.93 trillion won over the cited period.

Last year, the company, widely known as KEPCO, posted a record high of 12 trillion won in operating profit, with its full-year revenue growing 2.1 percent to 60.1 trillion won.

Source: Yonhap News Agency

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