SK Networks Reports 102% Increase in Q1 Operating Profit

SK Networks Headquarters. [Photo=SK Networks]

SK Networks announced on May 13 that its consolidated operating profit for the first quarter of this year reached 33.35 billion won, marking a 102.4% increase compared to the same period last year.

The company reported first-quarter revenue of 1.74 trillion won, a 6.5% increase, while its net profit turned positive at 427 billion won. Compared to the previous quarter, revenue rose by 7.7%, and operating profit surged by 651.7%.

Additionally, SK Networks completed a transaction with Anchor Equity Partners regarding a change in share structure for SK Eleclink, continuing its efforts to optimize its business structure by divesting non-core assets.

Earlier in March, SK Networks signed a contract to transfer 90% of its subsidiary Mintit for 45 billion won to T&K Private Equity, and in 2024, it plans to sell its entire stake in SK Rent-a-Car for 820 billion won.

* This article has been translated by AI.

Kim yoon seop