Korea Gas-Q1 earnings

Korea Gas Q1 net income down 81.1 pct to 139.4 bln won

SEOUL, May 11 (Yonhap) -- Korea Gas Corp. on Thursday reported its first-quarter net income of 139.4 billion won (US$105.1 million), down 81.1 percent from a year earlier.

Operating income for the January-March period was 588.4 billion won, down 35.5 percent from a year ago, the company said in a regulatory filing. Sales rose 28.3 percent to 17.92 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 522.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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