Seoul: S-Oil Corp. on Friday reported its second-quarter net loss of 66.8 billion won (US$48.5 million), remaining in the red compared with a year ago.
According to Yonhap News Agency, the company stated in a regulatory filing that it posted an operating loss of 344 billion won for the April-June period, compared with an operating profit of 160.6 billion won a year earlier. Additionally, sales decreased by 15.9 percent to 8.04 trillion won during this period.
The reported net loss was 66.7 percent lower than the average estimate based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.