SK Innovation-Q1 earnings
SK Innovation turns to profits in Q1
SEOUL, April 29 (Yonhap) -- SK Innovation Co. on Friday reported its first-quarter net profit of 863.3 billion won (US$680.3 million), shifting from a loss of 371.4 billion won a year earlier.
The company said in a regulatory filing that operating income for the January-March period rose 182.2 percent on-year to 1.64 trillion won. Sales increased 72.9 percent to 16.26 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 754 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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