Seoul: Korea Aerospace Industries Ltd. (KAI) has announced its second-quarter net income reached 57.1 billion won (US$41 million), marking a 3.1 percent increase from the same period last year. The company disclosed these figures in a regulatory filing, highlighting its financial performance for the quarter.
According to Yonhap News Agency, KAI recorded an operating profit of 85.2 billion won for the quarter, up from 74.3 billion won in the previous year. However, the company's revenue saw a decline of 7.1 percent, settling at 828.3 billion won. Despite the drop in revenue, the earnings surpassed market expectations. Analysts had projected an average net profit of 41.8 billion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.