Seoul: Lotte Chemical Corp. on Friday reported a net loss of 471.3 billion won (US$339.2 million) for the second quarter, marking a continuation of financial challenges compared to the same period last year. The company's regulatory filing detailed an operating loss of 244.9 billion won for the April-June period, which is an increase from the 121.3 billion won loss recorded a year earlier. Additionally, revenue decreased by 17.5 percent, totaling 4.19 trillion won.

According to Yonhap News Agency, the reported loss exceeded expectations by 142.4 percent, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. This significant deviation from estimates underscores the ongoing financial difficulties faced by Lotte Chemical. The company's performance highlights the challenges within the chemical industry, as it navigates through a period marked by reduced revenue and increased operating losses.