LG Electronics posts $394 mn operating profit

Seoul: LG Electronics has posted 448.2 billion won ($394 million) in operating profit for the first quarter, a regulatory filing showed Wednesday.

Consolidated operating profit, which includes profits from its units, reached 448.2 billion won during the January-March period, up 242.52 percent from a year earlier, according to the regulatory filing, reported Xinhua.

Sales contracted 7.08 percent on-year to 12.23 trillion won in the three months ending March 31, but it marked a net income of 242.5 billion won, a turnaround from a net loss of 15.77 billion won in the previous year.

IANS