Kumho Petro Chemical Q1 net income down 64.5 pct to 132.6 bln won

Kumho Petro Chemical-Q1 earnings

Kumho Petro Chemical Q1 net income down 64.5 pct to 132.6 bln won

SEOUL, May 2 (Yonhap) -- Kumho Petro Chemical Co. on Tuesday reported its first-quarter net income of 132.6 billion won (US$98.9 million), down 64.5 percent from a year earlier.

Operating profit for the January-March period was 130.2 billion won, down 71 percent from a year ago, the company said in a regulatory filing. Revenue fell 21.7 percent to 1.72 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 103.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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