SEOUL, July 27 (Yonhap) -- iM Financial Group on Monday reported a second-quarter net income of 144.8 billion won (US$98.5 million), down 9.1 percent from a year earlier.

The financial group said in a regulatory filing that it posted 182.7 billion won in operating profit for the quarter, compared with 198.6 billion won a year ago. Sales, on the other hand, rose 83.6 percent to 4.17 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 150.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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