Seoul: LG Uplus Corp. on Thursday reported a net profit of 352.9 billion won (US$244 million) in 2024, down 44 percent from a year earlier. The telecommunications company released its financial performance data highlighting a significant decrease in net income compared to the previous year.
According to Yonhap News Agency, the company stated in a regulatory filing that its operating profit for the year fell 13.5 percent year-on-year to 863.1 billion won. Despite the decline in net and operating profits, annual revenue saw a slight increase of 1.8 percent, reaching 14.62 trillion won. This revenue growth indicates some resilience in sales despite the challenges impacting profit margins.