Seoul: Korea Petrochemical Ind. Co. on Wednesday reported its second-quarter net income of 7.9 billion won (US$5.7 million), shifting from a loss of 1.8 billion won a year earlier. The company revealed in a regulatory filing that it continued to post an operating loss of 4.6 billion won for the April-June period, compared with a loss of 6.3 billion won a year earlier. Revenue rose 14.2 percent to 846.8 billion won.

According to Yonhap News Agency, Korea Petrochemical Ind. Co. managed to turn around its financial performance despite ongoing operating losses. The increase in revenue by 14.2 percent indicates a positive trend for the company, suggesting improvements in its market operations or demand for its products. The reduction in operating losses also points to more efficient management or cost-cutting measures undertaken by the company.