Seoul: Korea Investment Holdings Co. has reported a significant increase in its first-quarter net income, reaching 916.7 billion won (US$614.9 million), which marks a 99.6 percent rise compared to the previous year.
According to Yonhap News Agency, the company also saw its operating income for the January-March period increase to 1.1 trillion won, representing a 108.9 percent rise from the same period last year. Additionally, the company’s revenue surged 123.7 percent, reaching 11.99 trillion won.
The company’s earnings performance exceeded market expectations, as analysts had projected a net profit of 710.4 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.