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Lotte Chemical Q1 net profit down 78.3 pct to 116.6 bln won

Economy 15:33 May 13, 2022

SEOUL, May 13 (Yonhap) -- Lotte Chemical Corp. on Friday reported its first-quarter net income of 116.6 billion won (US$90.8 million), down 78.3 percent from a year earlier.

Operating income for the January-March period was 82.6 billion won, down 86.8 percent from a year ago, the company said in a regulatory filing. Revenue rose 34 percent to 5.58 trillion won.

The operating profit was 39.5 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.

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