LG Innotek Q1 net profit up 66.3 pct to 138.5 bln won

LG Innotek Co. on Wednesday reported its first-quarter net profit of 138.5 billion won (US$101.1 million), up 66.3 percent from a year earlier. The company said in a regulatory filing that operating profit for the January-March period rose 21.1 percent on-year to 176 billion won. Sales decreased 1 percent to 4.33 trillion won. The operating profit was 13.3 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. Source: Yonhap News Agency