Seoul: Oci Holdings on Thursday reported a second-quarter net income of 60.6 billion won (US$41.3 million), shifting from a loss of 82.4 billion won a year earlier. The company, which specializes in petrochemical and energy solutions, highlighted this significant financial shift in its regulatory filing.

According to Yonhap News Agency, Oci Holdings also posted an operating profit of 108.1 billion won for the April-June period, a notable turnaround from a loss of 80.3 billion won the previous year. Sales for the quarter rose by 31.8 percent, reaching 1.02 trillion won.

However, the earnings report fell short of market expectations. Analysts had anticipated a net profit of approximately 84.4 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.