Seoul: SK Biopharmaceuticals Co. (SK Biopharm), a biopharmaceutical subsidiary of SK Group, announced a significant decrease in its fourth-quarter net income, which stood at 132.7 billion won (US$90.2 million). This marks a 28.8 percent decline compared to the same period last year.
According to Yonhap News Agency, the company's operating profit for the October-December quarter increased by 13.8 percent from the previous year, reaching 46.3 billion won. Additionally, SK Biopharm's revenue saw a 19.2 percent rise, amounting to 194.4 billion won during this period.
Despite the increase in operating profit, it fell short by 2.2 percent compared to the average estimate from a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. However, specific estimates for net profit were not disclosed in the survey results.