(MENAFN- Qatar News Agency) Seoul April 24 - S-Oil Corp. South Korea's third-largest refiner said Thursday its net profit tumbled 82.6 % in the first quarter from a year ago due to lower cracking margin and a drop in paraxylene (PX) spread.
Net income came to 25.59 billion won (US$24.7 million) in the January-March period from 147.45 billion won a year earlier S-Oil said in a regulatory filing.
Sales fell 5.1 % to 7.60 trillion won in the period and operating profit nosedived 85.5 % to 47.24 billion won.
The figures included earnings from S-Oil and its subsidiaries.
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