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피터빈트

KT’s Q1 net profit falls 23.3%

By 임정요

Published : April 29, 2016 - 10:39

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South Korea’s telecom giant KT Corp. said Friday that its first-quarter net profit dropped 23.3 percent from a year earlier on increased costs and a slowdown in the fixed-line telephony business. 

KT Corp. headquarters in downtown Seoul. (Yonhap) KT Corp. headquarters in downtown Seoul. (Yonhap)

Net profit stood at 215.14 billion won ($189.2 million) in the January-March period on a consolidated basis, down from the previous year’s 280.59 billion won, the company said in a regulatory filing.

Operating profit, however, rose 22.8 percent on-year to 385.13 billion won, and revenue grew 2.2 percent to 5.52 trillion won.

(khnews@heraldcorp.com)

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