Seoul: Kumho Petrochemical Co. reported a significant increase in its second-quarter net income, reaching 300.4 billion won (US$211.6 million), which marks a 420.4 percent rise from the same period last year.

According to Yonhap News Agency, the company, known for its production of synthetic rubbers, resins, specialty chemicals, and nanocarbons, disclosed in a regulatory filing that its operating income for the April-June period amounted to 339 billion won, representing a 419.7 percent increase compared to the previous year. Additionally, Kumho Petrochemical's sales rose by 27.9 percent to 2.26 trillion won.

The operating profit exceeded expectations and was 82.5 percent higher than the average estimate, as indicated by a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the estimate for net profit was not available.