S-Oil-Q2 earnings

S-Oil turns to red in Q2

SEOUL, July 28 (Yonhap) -- S-Oil Corp. on Friday reported its second-quarter net loss of 22.4 billion won (US$17.6 million), swinging from a profit of 1.01 trillion won a year earlier.

The company said in a regulatory filing that it posted 36.4 billion won in operating profit for the quarter, compared with 1.72 trillion won a year ago. Revenue fell 31.7 percent to 7.81 trillion won.

The loss was 102 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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