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E-Mart profit misses consensus by 61.4% in Q2

E-Mart Inc. said its normalized net income for the second quarter was 976.75 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,533.49 won per share.

EPS fell 52.4% year over year from 2,050.99 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.22 billion won, a decrease of 52.4% from 57.15 billion won in the year-earlier period.

The normalized profit margin fell to 0.8% from 1.8% in the year-earlier period.

Total revenue increased on an annual basis to 3.232 trillion won from 3.109 trillion won, and total operating expenses grew 5.7% from the prior-year period to 3.167 trillion won from 2.997 trillion won.

Reported net income rose from the prior-year period to 273.01 billion won, or 9,798.06 won per share, from 65.87 billion won, or 2,363.95 won per share.

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