Seoul: SK Innovation Co., South Korea's leading refiner, announced its financial results for the second quarter, showcasing a turnaround with a net income of 73.5 billion won (US$51.1 million). This marks a significant recovery from the previous year's loss of 1.03 trillion won during the same period.

According to Yonhap News Agency, SK Innovation's operating profit for the April to June period reached 3.48 trillion won, a stark contrast to the loss of 401.6 billion won reported a year earlier. The company's revenue also saw a substantial increase, rising by 49.9 percent to 29.15 trillion won.

Despite the improved financial performance, the earnings fell short of market expectations. Analysts, as surveyed by Yonhap Infomax, had projected an average net profit of 1.1 trillion won, indicating a notable discrepancy between forecasts and actual results.