Seoul: SK Innovation Co., South Korea's leading refiner, reported a net loss of 1.03 trillion won (US$743.3 million) in the second quarter, maintaining its position in the red compared to the previous year. The company released these figures on Thursday, highlighting ongoing financial challenges.
According to Yonhap News Agency, the refiner's operating loss for the April-June period reached 417.6 billion won, a significant increase from the 45.8 billion won loss reported a year earlier. Despite these losses, SK Innovation saw a 2.7 percent rise in revenue, totaling 19.3 trillion won.
The reported loss exceeded expectations by 162.1 percent, as indicated by a survey from Yonhap Infomax, the financial data subsidiary of Yonhap News Agency. This highlights the ongoing financial difficulties faced by SK Innovation in the current economic climate.