Seoul: GS Engineering and Construction (E and C) Corp. on Wednesday reported its second-quarter net loss of 87.1 billion won (US$62.8 million), marking a significant shift from a profit of 35.2 billion won a year earlier.
According to Yonhap News Agency, the company experienced an increase in operating profit for the April-June period, reaching 162.1 billion won, which is up 73.5 percent from the previous year. Despite the growth in operating profits, GS E and C's sales saw a decline of 3.1 percent, totaling 3.19 trillion won for the quarter.
The financial results illustrate a challenging period for the company as it navigates through fluctuating market conditions. The shift to a net loss underscores the impact of external factors affecting its profitability, despite the rise in operating profits.