Seoul: SK Biopharmaceuticals Co. has announced a significant increase in its first-quarter net profit, reporting a total of 19.6 billion won (US$13.9 million), marking a 102.3 percent rise from the same period last year.
According to Yonhap News Agency, the company's operating income for the January-March quarter reached 25.7 billion won, reflecting a 149.3 percent increase year-on-year. Additionally, the company's revenue showed a substantial growth of 26.7 percent, totaling 144.4 billion won.
Despite these gains, the operating profit fell 25 percent short of the average estimate predicted by a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. However, an estimate for the net profit was not provided in the survey.