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SK Innovation shifts to red in Q1

All News 09:44 May 06, 2020

SEOUL, May 6 (Yonhap) -- SK Innovation Co. on Wednesday reported its first-quarter net loss of 1.55 trillion won (US$ 1.3 billion), swinging from a profit of 208.8 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 1.77 trillion won for the January-March period, compared with a profit of 328.1 billion won a year ago. Sales fell 12.6 percent to 11.16 trillion won.

The operating profit was 76.8 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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