Seoul: Lotte Shopping Co., an affiliate of South Korean retail conglomerate Lotte Group, reported a second-quarter net income of 14.6 billion won (US$10.3 million), marking a significant turnaround from a loss of 10.3 billion won in the same period the previous year.

According to Yonhap News Agency, the company announced in a regulatory filing that its operating income for the April-June period rose 121.2 percent year-on-year to 89.9 billion won. Additionally, the company's revenue saw a 4 percent increase, reaching 3.48 trillion won for the quarter.

Despite these improvements, the earnings fell short of market expectations. Analysts, surveyed by Yonhap Infomax, the financial data firm of Yonhap News Agency, had estimated an average net profit of 37.1 billion won for Lotte Shopping's second quarter.