S-Oil's Q1 net soars on better refining margins
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10:00 April 27, 2015
SEOUL, April 27 (Yonhap) -- S-Oil Corp., South Korea's third-largest refiner, said Monday its earnings skyrocketed 732.7 percent in the first quarter from a year ago as cheap oil prices improved cracking margins.
Net income came in at 211.25 billion won (US$196.4 million) in the January-March period, compared with 25.37 billion won from a year earlier, S-Oil said in a regulatory filing.
Sales, however, declined 42.5 percent on-year to 4.37 trillion won, while operating profit gained 407.3 percent to 238.13 billion won, the firm said.
ejkim@yna.co.kr
(END)
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