Yonhap News AgencyApril 24, 2014 07:31
By Nam Kwang-sik
SEOUL, April 24 (Yonhap) -- POSCO, South Korea's top steelmaker, said Thursday its first-quarter net income dropped 81 percent from a year ago from foreign exchange losses and a tax penalty.
Net profit stood at 55.65 billion won (US$53.6 million) in the January-March period compared with 292.26 billion won a year earlier, POSCO said in a regulatory filing.
Revenue, however, rose 5.9 percent to 15.44 trillion won in the period and operating profit gained 2 percent to 731.26 billion won.