Seoul: Celltrion Inc. on Friday reported a significant increase in its first-quarter net income, reaching 108.3 billion won (US$77.4 million), which represents a 421.6 percent rise from the previous year.
According to Yonhap News Agency, the company's regulatory filing showed an operating profit of 149.4 billion won for the quarter, a considerable increase from the 15.4 billion won recorded a year ago. Revenue for the period also saw an increase of 14.2 percent, totaling 841.9 billion won.
Despite these substantial gains, the earnings fell short of market expectations. Analysts had projected an average net profit of 130.6 billion won, as per a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.