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Hyundai Steel shifts to red in Q2

All News 13:48 July 28, 2020

SEOUL, July 28 (Yonhap) -- Hyundai Steel Co. on Tuesday reported its second-quarter net loss of 12.9 billion won (US$ 10.8 million), swinging from a profit of 51.1 billion won a year earlier.

The company said in a regulatory filing that it posted 14 billion won in operating profit for the quarter, compared with 232.6 billion won a year ago. Sales fell 26.2 percent to 4.11 trillion won.

The operating profit was 144.8 percent lower 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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