Seoul: SKC on Monday reported its first-quarter net loss of 75.6 billion won (US$51.4 million), remaining in the red compared with a year ago.

According to Yonhap News Agency, the company said in a regulatory filing that it continued to post an operating loss of 28.7 billion won for the January-March period, compared with a loss of 74 billion won a year earlier. Despite the ongoing losses, the company saw a rise in sales, which increased by 13.4 percent to reach 496.6 billion won.

The financial results reflect the challenges SKC is facing as it navigates through a challenging economic environment. The rise in sales indicates some positive momentum, but the company still needs to address its operational inefficiencies to return to profitability. The figures highlight the importance for SKC to reassess its strategic approach to improve its financial health in the upcoming quarters.