Korea Petro Chemical Ind swings to red in Q1

Korea Petro Chemical Ind-Q1 earnings

Korea Petro Chemical Ind swings to red in Q1

SEOUL, April 26 (Yonhap) -- Korea Petro Chemical Ind Co. on Wednesday reported its first-quarter net loss of 17.6 billion won (US$13.1 million), turning from a profit of 2.5 billion won a year earlier.

The company said in a regulatory filing that it continued to post an operating loss of 36.1 billion won for the January-March period, compared with a loss of 2.2 billion won a year earlier. Sales fell 23.7 percent to 529.1 billion won.

The loss was 45.1 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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