Seoul: KEPCO Engineering and Construction Co. on Thursday reported a significant decline in its second-quarter net profit, posting a figure of 326 million won (US$236,403), which marks a steep drop of 98.1 percent compared to the same period last year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that it experienced an operating loss of 4.4 billion won during the April-June quarter. This represents a reversal from the previous year's operating profit of 13.2 billion won. Additionally, KEPCO E and C's revenue saw a reduction of 19.6 percent, amounting to 102.3 billion won for the quarter.
The substantial decline in net income and the shift to an operating loss highlight challenges faced by KEPCO E and C in maintaining profitability amidst changing market conditions. The decrease in revenue further underscores the financial pressures impacting the company's performance in this quarter.