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Korea Electric Power Q2 profit falls YOY

Korea Electric Power Corp. said its normalized net income for the second quarter came to 520.80 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 489.99 won per share.

EPS declined 77.2% year over year from 2,283.08 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 334.33 billion won, a decline of 77.2% from 1.466 trillion won in the year-earlier period.

The normalized profit margin dropped to 2.6% from 11.0% in the year-earlier period.

Total revenue decreased on an annual basis to 12.806 trillion won from 13.373 trillion won, and total operating expenses increased 14.2% from the prior-year period to 12.079 trillion won from 10.574 trillion won.

Reported net income fell 81.0% on an annual basis to 327.17 billion won, or 509.63 won per share, from 1.726 trillion won, or 2,689.48 won per share.

As of Sept. 7, US$1 was equivalent to 1,127.76 South Korean won.