Seoul: POSCO International on Thursday reported its second-quarter net income of 247.3 billion won (US$170.9 million), marking a significant increase of 173.3 percent from the previous year.

According to Yonhap News Agency, the company, which operates as the trading and energy arm of the POSCO Group, revealed in a regulatory filing that it achieved an operating profit of 429 billion won for the quarter. This is an increase from the 338.1 billion won recorded during the same period last year. Additionally, the sales for the quarter rose by 18.4 percent, reaching 9.62 trillion won.

The reported earnings surpassed market expectations, with analysts' average net profit estimate standing at 241.4 billion won, as per a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.