Seoul: Kolmar Korea reported a significant increase in its first-quarter net income, which soared to 60 billion won (US$41 million), marking a 158.7 percent rise from the same period the previous year.

According to Yonhap News Agency, the cosmetic original design manufacturing company disclosed in a regulatory filing that its operating profit for the January-March period rose 31.6 percent on-year, reaching 78.9 billion won. Additionally, sales increased by 11.5 percent, totaling 728 billion won.

The company's earnings surpassed market expectations, with analysts' average net profit estimate being 34.6 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.