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SL Corp. Q1 profit climbs 22.4% YOY

SL Corp. said its first-quarter normalized net income amounted to 368.63 South Korean won per share, an increase of 22.4% from 301.26 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 12.48 billion won, a gain of 22.4% from 10.20 billion won in the year-earlier period.

The normalized profit margin increased to 3.7% from 3.0% in the year-earlier period.

Total revenue increased on an annual basis to 340.25 billion won from 334.54 billion won, and total operating expenses came to 321.06 billion won, compared with 318.35 billion won in the prior-year period.

Reported net income rose year over year to 23.23 billion won, or 686.03 won per share, from 22.85 billion won, or 674.94 won per share.

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