Seoul: Lotte Chemical Corp. on Friday reported its second-quarter net profit of 194.5 billion won (US$137.2 million), marking a significant turnaround from a loss of 471.3 billion won a year earlier. The company's performance highlights a recovery in its financial standing, driven by improved market conditions.

According to Yonhap News Agency, Lotte Chemical's operating income for the April-June period stood at 110.1 billion won, which contrasts with a loss of 250.5 billion won in the same quarter of the previous year. The company's sales also saw a considerable increase, rising by 39.2 percent to reach 5.68 trillion won.

Lotte Chemical, a producer of advanced chemical products and battery materials, attributes this positive shift to strategic adjustments and favorable market dynamics. The financial results underscore the company's resilience and adaptability in a competitive industry landscape.