Seoul:<Text>

Woori Financial Group on Friday reported a first-quarter net profit of 638.9 billion won (US$430.6 million), down 2.4 percent from a year earlier. Operating profit for the January-March period reached 808.2 billion won, also down 7 percent from a year ago, the company said in a regulatory filing. Revenue, on the other hand, rose 58.2 percent to 15.28 trillion won.

According to Yonhap News Agency, the earnings fell short of market expectations. The average estimate of net profit by analysts stood at 736.2 billion won, based on a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.