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A-Jin Industrial Q1 profit falls YOY

A-Jin Industrial Co. Ltd. said its normalized net income for the first quarter came to 401.42 South Korean won per share, a decrease of 34.2% from 609.75 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.19 billion won, a decline of 33.9% from 4.82 billion won in the prior-year period.

The normalized profit margin dropped to 3.9% from 6.8% in the year-earlier period.

Total revenue climbed 17.0% on an annual basis to 82.43 billion won from 70.46 billion won, and total operating expenses grew 16.2% year over year to 73.46 billion won from 63.23 billion won.

Reported net income fell 52.3% year over year to 3.84 billion won, or 484.00 won per share, from 8.06 billion won, or 1,019.56 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.