Seoul: LS Electric Co., a South Korean electric equipment maker, announced its second-quarter net profit, which reached 67.3 billion won (US$49.1 million), marking a 4 percent increase compared to the same period last year.
According to Yonhap News Agency, the company's operating income for the April-June period was 108.6 billion won, reflecting a 0.9 percent decrease from the previous year. However, revenue experienced a 5.4 percent rise, amounting to 1.19 trillion won during the same quarter.
Despite the growth in net profit, the earnings did not meet market expectations. Analysts had anticipated a higher net profit, with the average estimate being 75.3 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.