SEOUL - LG Innotek Co. announced a significant rise in its first-quarter net profit, which soared by 66.3% to 138.5 billion won ($101.1 million) compared to the same period last year.
According to Yonhap News Agency, the company also saw its operating profit for the January-March period increase by 21.1% year-on-year to 176 billion won. Despite these gains, sales dipped slightly by 1% to 4.33 trillion won. The operating profit exceeded the average estimate by 13.3%, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The projection for net profit was not disclosed.