S-Oil Reports Significant Third-Quarter Loss of 206.2 Billion Won.

SEOUL: S-Oil Corp. on Monday reported its third-quarter net loss of 206.2 billion won (US$150.5 million), shifting from a profit of 545.4 billion won a year earlier. The company revealed in a regulatory filing that it posted an operating loss of 414.9 billion won for the July-September period, compared with a profit of 858.9 billion won a year ago. Revenue experienced a decline of 1.8 percent, amounting to 8.84 trillion won. According to Yonhap News Agency, the loss was 2.9 percent higher than the average estimate, based on a survey conducted by Yonhap Infomax, the financial data firm associated with Yonhap News Agency. This marks a significant shift in the financial performance of S-Oil Corp. compared to the same period last year.