Korea Electric Power Corp., a major public utility firm in South Korea, said Tuesday that its net profit dropped almost 45 percent in the third quarter of the year from a year earlier due to increased fuel costs.
Net profit reached 1.62 trillion won ($1.46 billion) on a consolidated basis in the July-September period, compared to a profit of 2.94 trillion won a year earlier, the company said in a regulatory filing.
Operating income also sank 37.3 percent on-year to 2.77 trillion won, while sales increased 1.5 percent to 16.19 trillion won over the cited period.