Korea Gas Corp.'s operating profit for the second quarter this year rose roughly 67% from a year earlier, according to preliminary figures.
Korea Gas Corp. said on the 7th that its consolidated operating profit for the second quarter came to 675.3 billion won, up 66.9% from 404.6 billion won a year earlier.
Revenue fell 1.6% to 7.508 trillion won from 7.6301 trillion won a year earlier. Net profit rose 298.1% to 338.8 billion won.
For the first half of the year, operating profit reached 1.5853 trillion won and net profit 887.1 billion won, up 28% and 96.1%, respectively.
A Korea Gas Corp. official explained, "Revenue declined due to lower selling prices from falling oil prices compared with the first half of last year, but operating profit increased on lower cost of sales and higher profits from subsidiaries such as those in Mozambique."
Operating profit from overseas businesses under way in Myanmar, Mozambique and elsewhere rose to 330.9 billion won this year from 192 billion won in the first half of last year.
Receivables edged higher. Receivables from residential use stood at 13.539 trillion won, down from 13.8649 trillion won at the end of last year but up from 13.3717 trillion won in the first quarter.
