Seoul: Lotte Chemical Corp. on Tuesday reported its first-quarter net loss of 246.3 billion won (US$173.9 million), remaining in the red compared with a year ago. The company continued to face financial challenges in the early months of the year.
According to Yonhap News Agency, Lotte Chemical disclosed in a regulatory filing that it posted an operating loss of 126.6 billion won for the January-March period. This compares with an operating loss of 135.3 billion won recorded a year earlier. Despite efforts to stabilize its operations, the company experienced a revenue decline of 3.6 percent, totaling 4.9 trillion won for the quarter.