S-Oil's Q1 net soars on better refining margins

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
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