Seoul: OCI Holdings Co. on Thursday reported its first-quarter net loss of 14.9 billion won (US$10.4 million), shifting from a profit of 191.6 billion won a year earlier.
According to Yonhap News Agency, the company's operating income for the January-March period was 48.7 billion won, marking a decline of 50.9 percent compared to the previous year. Despite the downturn in operating income, OCI Holdings saw its revenue increase by 9.5 percent, reaching 946.5 billion won during the same period.
The results highlight a challenging start to the year for OCI Holdings, with significant declines in profits and operating income, despite an uptick in revenue. The company has not disclosed specific reasons for the net loss or the strategies it plans to adopt in response to these financial challenges.