(MENAFN) Battery and chemical materials maker, Samsung SDI Co., said it returned to profits in the first-quarter period, mainly due to the absence of one-off costs from the July merger, Yonhap News reported.
Net income amounted to USD60.2 million in the January-March period, turning around from a loss of USD119.74 million in the previous quarter, the company said in a regulatory filing.
However, the company registered a decline of 81.6 percent in its operating profit quarter-on-quarter, reaching USD6.32 million, with sales also dropping 2.32 percent to USD1.73 billion over the cited period.
The company cited the low-demand seasonality for the battery sector as one of the reasons that dragged down its sales. It indicated that some of its key clients made adjustments in the lines of their product purchases.
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