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Doosan Heavy Industries Co., South Korea's top power equipment maker, said Wednesday its first-quarter profit shrank 58 percent from a year earlier largely due to a one-off factor.
Net profit reached 37.5 billion won ($51.3 million) on a consolidated basis in the January-March period, compared with a profit of 89.7 billion won a year earlier, the company said in a regulatory filing.
The company posted an operating income of 237 billion won in the first quarter compared with an operating income of 221 billion won the previous year.
Sales gained 8.3 percent on-year to reach 3.44 trillion won in the first quarter, it added.
Doosan Heavy has been seeking to restructure itself by focusing on profitable projects and cutting costs. (Yonhap)
