Seoul: SK Innovation Co. on Thursday reported a fourth-quarter net loss of 1.07 trillion won (US$745.5 million). Operating profit for the October-December period was 159.9 billion won, reflecting an increase of 120.2 percent from the previous year, as detailed in a regulatory filing by the company. Meanwhile, revenue experienced a slight decline of 0.6 percent, totaling 19.4 trillion won.
According to Yonhap News Agency, the reported loss was significantly higher than anticipated, being 436.6 percent larger than the average estimate. This estimate was derived from a survey conducted by Yonhap Infomax, which is the financial data firm associated with Yonhap News Agency. The discrepancy between the expected and actual figures highlights the challenges faced by SK Innovation during this period.