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S-Oil Q2 profit climbs 519.3% YOY

S-Oil Corp. said its second-quarter normalized net income came to 3,001.70 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,690.32 won per share.

EPS climbed 519.2% year over year from 484.76 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 349.48 billion won, a gain of 519.3% from 56.43 billion won in the prior-year period.

The normalized profit margin rose to 6.8% from 0.8% in the year-earlier period.

Total revenue decreased 30.7% on an annual basis to 5.143 trillion won from 7.419 trillion won, and total operating expenses declined 39.3% on an annual basis to 4.536 trillion won from 7.474 trillion won.

Reported net income increased 528.5% from the prior-year period to 428.80 billion won, or 3,683.00 won per share, from 68.22 billion won, or 586.01 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.