Mirae Asset Securities Q1 net profit down 33.6 pct to 197.1 bln won

Mirae Asset Securities Co. on Thursday reported its first-quarter net profit of 197.1 billion won (US$153 million), down 33.6 percent from a year earlier.

The company said in a regulatory filing that operating profit for the January-March period fell 32.1 percent on-year to 284.7 billion won. Revenue increased 10.4 percent to 5.25 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 211.1 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency