Hyundai Steel shifts to red in Q1

SEOUL, April 24 (Yonhap) -- Hyundai Steel Co. on Friday reported its first-quarter net loss of 115.4 billion won (US$ 93.4 million), turning from a profit of 114 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 29.7 billion won for the January-March period, compared with a profit of 212.4 billion won a year ago. Sales fell 8 percent to 4.66 trillion won.

The operating profit was 30.0 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

※ This article was generated by Yonhap's proprietary algorithm using data from Yonhap Infomax and Korea Exchange(KRX).
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