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DTR Automotive Q1 profit climbs 22.9% YOY

DTR Automotive Corp. said its normalized net income for the first quarter came to 1,253.07 South Korean won per share, a gain of 22.8% from 1,020.14 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 10.91 billion won, an increase of 22.9% from 8.88 billion won in the prior-year period.

The normalized profit margin declined to 5.1% from 5.2% in the year-earlier period.

Total revenue increased 25.7% year over year to 214.04 billion won from 170.34 billion won, and total operating expenses rose 24.2% on an annual basis to 197.70 billion won from 159.15 billion won.

Reported net income increased 17.0% from the prior-year period to 13.18 billion won, or 1,514.46 won per share, from 11.27 billion won, or 1,295.02 won per share.

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