SEOUL-- Shinsegae Inc. on Wednesday reported its first-quarter net income of 150.9 billion won (US$118.3 million), up 69.2 percent from a year earlier.

The company said in a regulatory filing that operating profit for the January-March period rose 32.4 percent on-year to 163.6 billion won. Revenue increased 33.8 percent to 1.76 trillion won.

The operating profit was 15.6 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Source: Yonhap News Agency