|Chennai||Rs. 25020.00 (0.81%)|
|Mumbai||Rs. 25890.00 (0.98%)|
|Delhi||Rs. 25200.00 (-0.2%)|
|Kolkata||Rs. 25480.00 (1.03%)|
|Kerala||Rs. 24800.00 (0.61%)|
|Bangalore||Rs. 25000.00 (0.81%)|
|Hyderabad||Rs. 25080.00 (1.09%)|
Korean Air Lines Co. says fourth quarter profit more than tripled because of the stronger won, masking losses from a weak cargo business.
The South Korean flag carrier said Friday its net income rose to 140 billion won ($128 million) in the October-December period from 44.5 billion won a year earlier.
It said the stronger won reduced its U.S. dollar debts, resulting in an accounting gain.
But weak cargo and a decline in passengers from Japan resulted in a 17.6 billion won operating loss, compared with 77 billion won operating profit a year earlier. The operating result excludes currency fluctuations to provide a clearer picture of financial performance.
The company blamed the drop in cargo shipments on weak trade. Outbound cargos also fell as local companies moved manufacturing facilities overseas.