Seoul: LS Electric on Thursday announced its second-quarter net income of 115.8 billion won (US$78.7 million), marking a 72.2 percent increase from the previous year. This growth was observed despite the earnings falling short of market expectations.

According to Yonhap News Agency, LS Electric's operating income for the April-June period increased by 64.4 percent from a year ago, reaching 178.5 billion won. Additionally, the company's sales for the same period rose by 32.2 percent, amounting to 1.57 trillion won.

The financial results, however, did not meet the projections set by market analysts. The average estimate of net profit, based on a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency, was anticipated to be 124.6 billion won. Despite the shortfall in meeting these expectations, LS Electric demonstrated notable year-over-year growth in its financial performance for the second quarter.