Seoul: SK Innovation Co., South Korea's leading refiner, reported a notable financial turnaround in the first quarter, achieving a net profit of 896.1 billion won (US$601.7 million). This marks a significant shift from the previous year's loss of 125.6 billion won during the same period.
According to Yonhap News Agency, the company reported operating income of 2.16 trillion won for the January-March period, a substantial improvement from a loss of 30.7 billion won a year ago. Additionally, sales experienced a 15.2 percent increase, reaching 24.21 trillion won.
The operating profit surpassed expectations, being 7.9 percent higher than the average estimate derived from a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the forecast for net profit was not available.