Seoul: Kumho Petro Chemical Co. reported a first-quarter net profit of 124.8 billion won (US$89.1 million), marking a 21.7 percent increase from the previous year. The company disclosed these figures in a recent regulatory filing, highlighting significant growth compared to the same period last year.
According to Yonhap News Agency, Kumho Petro Chemical's operating profit for the quarter reached 120.6 billion won, up from 78.6 billion won a year ago. The company's sales also saw an increase of 14.4 percent, reaching 1.9 trillion won.
The financial results surpassed market expectations. Analysts, on average, had estimated the net profit to be around 88.2 billion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.