Lotte Chemical Reports Significant Third-Quarter Loss.

Seoul: Lotte Chemical Corp. on Thursday reported its third-quarter net loss of 513.8 billion won (US$368 million), swinging from a profit of 31.3 billion won a year earlier. The company said in a regulatory filing that it posted an operating loss of 413.6 billion won for the July-September period, compared with a profit of 42.6 billion won a year ago. Revenue rose 5.6 percent to 5.2 trillion won. According to Yonhap News Agency, the loss was 216.5 percent higher than the average estimate, based on a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The significant downturn in Lotte Chemical's financial performance marks a notable shift from the previous year's profit, highlighting challenges in the chemical industry during this period.