Oci holdings co.: OCI Holdings Co., on Thursday reported its second-quarter net loss of 76.3 billion won (US$55.8 million), shifting from a profit of 22.8 billion won a year earlier.
According to Yonhap News Agency, the company stated in a regulatory filing that it reported an operating loss of 77.7 billion won for the April-June period, compared with a profit of 89.6 billion won a year ago. Revenue for the quarter decreased by 18.3 percent, amounting to 776.2 billion won.
The financial downturn marks a significant shift for OCI Holdings, which had previously recorded a profit during the same period last year. The decline in revenue and the resulting losses highlight the challenging market conditions the company is currently facing.