SEOUL– Hanwha Solutions Corp. on Thursday reported its first-quarter net profit of 103.1 billion won (US$81.1 million), down 73.2 percent from a year earlier.
Operating profit for the January-March period was 157.9 billion won, down 38 percent from a year ago, the company said in a regulatory filing. Sales rose 23.5 percent to 2.97 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 56.2 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency