E-Mart-Q1 earnings

E-Mart Q1 net profit down 99.7 pct to 2.7 bln won

SEOUL, May 11 (Yonhap) -- E-Mart Inc. on Thursday reported its first-quarter net income of 2.7 billion won (US$2 million), down 99.7 percent from a year earlier.

The company said in a regulatory filing that it posted 13.7 billion won in operating profit for the quarter, compared with 34.4 billion won a year ago. Sales rose 1.9 percent to 7.13 trillion won.

The operating profit was 78.8 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

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