Kakaopay Q1 net profit down 68.4 pct to 3.8 bln won

Kakaopay-Q1 earnings

Kakaopay Q1 net profit down 68.4 pct to 3.8 bln won

SEOUL, May 2 (Yonhap) -- Kakaopay Corp. on Monday reported its first-quarter net income of 3.8 billion won (US$3 million), down 68.4 percent from a year earlier.

The company said in a regulatory filing that it posted an operating loss of 1.1 billion won for the January-March period, compared with a profit of 10.8 billion won a year ago. Revenue rose 15.1 percent to 123.3 billion won.

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