Seoul: Lotte Chilsung Beverage Co. on Monday reported its 2024 net income of 60 billion won (US$41.4 million), marking a 64 percent decrease from the previous year. This significant drop in net profit has raised concerns among stakeholders and market analysts.

According to Yonhap News Agency, the company revealed in a regulatory filing that its operating profit for the year was 184.9 billion won, a decline from 210.7 billion won recorded in the previous year. Despite the decline in net and operating profits, Lotte Chilsung Beverage experienced a growth in its annual revenue, which rose by 24.8 percent to reach 4.02 trillion won.

The company's financial performance highlights the challenges it faced over the year, despite a notable increase in revenue. Stakeholders will be closely monitoring the company's strategic plans to address the profit decline in the coming months.