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Jindo Q1 profit climbs YOY

Jindo. Co. Ltd. said its first-quarter normalized net income came to 86.92 South Korean won per share, an increase from 16.46 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 872.6 million won, a gain from 164.2 million won in the prior-year period.

The normalized profit margin increased to 2.5% from 0.5% in the year-earlier period.

Total revenue rose 9.9% on an annual basis to 35.23 billion won from 32.06 billion won, and total operating expenses rose 8.8% on an annual basis to 33.56 billion won from 30.85 billion won.

Reported net income totaled 1.60 billion won, or 158.93 won per share, compared to a loss of 2.48 billion won, or a loss of 248.21 won per share, in the year-earlier period.

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