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S-Oil profit beats consensus by 19.1% in Q1

S-Oil Corp. said its normalized net income for the first quarter was 2,790.80 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,342.99 won per share.

EPS fell 8.9% year over year from 3,062.31 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 324.95 billion won, a decline of 8.9% from 356.51 billion won in the year-earlier period.

The normalized profit margin declined to 6.2% from 10.4% in the year-earlier period.

Total revenue rose 51.7% on an annual basis to 5.200 trillion won from 3.428 trillion won, and total operating expenses increased 65.7% on an annual basis to 4.867 trillion won from 2.937 trillion won.

Reported net income decreased 9.1% year over year to 393.91 billion won, or 3,383.00 won per share, from 433.31 billion won, or 3,722.00 won per share.

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