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Korea Electric Power profit beats consensus by 16.6% in Q2

Korea Electric Power Corp. said its second-quarter normalized net income was 1,591.79 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,365.71 won per share.

EPS climbed 360.1% year over year from 345.99 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.022 trillion won, a gain of 374.0% from 215.57 billion won in the year-earlier period.

The normalized profit margin increased to 7.5% from 1.7% in the year-earlier period.

Total revenue increased 6.1% on an annual basis to 13.579 trillion won from 12.802 trillion won, and total operating expenses fell from the prior-year period to 11.584 trillion won from 12.060 trillion won.

Reported net income rose 745.1% on an annual basis to 1.306 trillion won, or 2,033.11 won per share, from 154.51 billion won, or 248.00 won per share.

As of Sept. 9, US$1 was equivalent to 1,186.67 South Korean won.