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Enex Q1 profit climbs 63.3% YOY

Enex Co. Ltd. said its first-quarter normalized net income amounted to 35.76 South Korean won per share, a gain of 55.0% from 23.07 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 1.98 billion won, an increase of 63.3% from 1.21 billion won in the prior-year period.

The normalized profit margin increased to 2.3% from 1.8% in the year-earlier period.

Total revenue increased 26.2% on an annual basis to 86.19 billion won from 68.28 billion won, and total operating expenses rose 25.5% from the prior-year period to 83.11 billion won from 66.23 billion won.

Reported net income rose 75.1% year over year to 3.41 billion won, or 61.68 won per share, from 1.95 billion won, or 37.09 won per share.

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