Seoul: Lotte Fine Chemical Co. on Wednesday reported its second-quarter net income of 15.5 billion won (US$11.2 million), marking a 64.2 percent decrease from the same period last year. The company disclosed this information in a regulatory filing, highlighting challenges faced during the April-June period.
According to Yonhap News Agency, Lotte Fine Chemical's operating profit for the second quarter fell by 49.1 percent year-on-year to 8.7 billion won. In contrast, the company's revenue saw a slight increase of 0.6 percent, reaching 424.7 billion won. Despite the revenue growth, the operating profit was 1.1 percent lower than the average estimate derived from a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The survey did not provide an estimate for net profit.