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Lotte Chemical Q2 net income down 92.8 pct. to 36.2 bln won

All News 15:52 August 05, 2022

SEOUL, Aug. 5 (Yonhap) -- Lotte Chemical Corp. on Friday reported its second-quarter net income of 36.2 billion won (US$27.9 million), down 92.8 percent from a year earlier.

The company said in a regulatory filing that it posted an operating loss of 21.4 billion won for the April-June period, compared with a profit of 594 billion won a year ago. Revenue rose 26.6 percent to 5.51 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 29.8 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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