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SK Holdings Q1 profit climbs 44.5% YOY

SK Holdings Co. Ltd. said its normalized net income for the first quarter came to 5,953.64 South Korean won per share, an increase of 44.6% from 4,116.86 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 332.36 billion won, an increase of 44.5% from 230.08 billion won in the prior-year period.

The normalized profit margin climbed to 1.4% from 1.1% in the year-earlier period.

Total revenue increased 12.5% on an annual basis to 23.063 trillion won from 20.498 trillion won, and total operating expenses climbed 12.6% year over year to 21.355 trillion won from 18.972 trillion won.

Reported net income rose 48.0% from the prior-year period to 593.85 billion won, or 10,637.88 won per share, from 401.35 billion won, or 7,181.51 won per share.

As of May 15, US$1 was equivalent to 1,116.40 South Korean won.