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Korea Electric Power profit misses consensus by 52.4% in Q1

Korea Electric Power Corp. said its first-quarter normalized net income came to 1,297.31 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,723.96 won per share.

EPS fell 61.4% year over year from 3,356.62 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 832.83 billion won, a decline of 61.4% from 2.155 trillion won in the year-earlier period.

The normalized profit margin declined to 5.5% from 13.8% in the year-earlier period.

Total revenue fell year over year to 15.030 trillion won from 15.587 trillion won, and total operating expenses climbed 13.3% from the prior-year period to 13.683 trillion won from 12.080 trillion won.

Reported net income declined 59.4% year over year to 866.91 billion won, or 1,350.41 won per share, from 2.135 trillion won, or 3,326.43 won per share.

As of June 30, US$1 was equivalent to 1,144.72 South Korean won.