Seoul: NHN Corp. on Tuesday reported its first-quarter net income of 31.1 billion won (US$21.2 million), turning from a loss of 238 million won a year earlier.

According to Yonhap News Agency, the Korean IT company disclosed in a regulatory filing that its operating profit for the January-March period fell by 5 percent year-on-year to 26.3 billion won. However, revenue showed an increase of 11.9 percent, reaching 671.4 billion won.

The operating profit was 13.7 percent lower than the average estimate, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate for net profit was not available.