Seoul: Hanwha Solutions Corp. on Thursday reported a net loss of 30.2 billion won (US$21.1 million) for the first quarter, continuing its financial struggles compared to the same period last year.
According to Yonhap News Agency, the company disclosed its operating income for the January-March period amounted to 30.3 billion won, a significant improvement from a loss of 214.6 billion won reported in the previous year. Meanwhile, the revenue for the quarter rose by 31.5 percent, reaching 3.09 trillion won.
The net loss was significantly below expectations, coming in 77.3 percent lower than the average estimate based on a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.