South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced its financial results for the second quarter of the current year, reporting a net profit of KRW 220.54 billion ($194.27 million) for the second quarter, increasing by 87.9 percent compared to the same period of the previous year.
In the second quarter, POSCO's sales revenue decreased by 15 percent to KRW 12.85 trillion ($11.32 billion), while its operating profit amounted to KRW 678.5 billion ($597.7 million), down one percent, both year on year.