SEOUL – Celltrion Inc. announced a significant decrease in its second-quarter net profit, which fell by 48% to 78.5 billion won ($57.1 million), despite a notable rise in sales.
According to Yonhap News Agency, the operating profit for the quarter was reported at 72.5 billion won, a substantial decline from 183 billion won a year earlier. However, sales showed a robust increase of 66.9%, reaching 874.7 billion won. Despite the downturn in profit, the earnings surpassed market expectations, with the average net profit estimate by analysts being 75 billion won, as surveyed by Yonhap Infomax, the financial data firm of Yonhap News Agency.