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Seojin Automotive Q2 profit climbs 76.2% YOY

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Seojin Automotive Q2 profit climbs 76.2% YOY

Seojin Automotive Co. Ltd. said its second-quarter normalized net income came to 144.09 South Korean won per share, an increase from 68.35 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.72 billion won, an increase of 76.2% from 1.55 billion won in the prior-year period.

The normalized profit margin climbed to 0.5% from 0.5% in the year-earlier period.

Total revenue increased on an annual basis to 333.02 billion won from 325.28 billion won, and total operating expenses rose from the prior-year period to 326.47 billion won from 315.39 billion won.

Reported net income declined 54.1% from the prior-year period to 1.38 billion won, or 73.00 won per share, from 3.01 billion won, or 133.00 won per share.

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