POSCO's net profit is $607 million in the second quarter of 2023

South Korea's Pohang Iron and Steel Company (POSCO) announced its consolidated financial results for the second quarter of this year. In the indicated period, the Company reported an operating profit of KRW 1.32 trillion ($1.03 billion), an increase of 88% over the previous quarter. In the given quarter, POSCO's revenue decreased 12.5% year-on-year to KRW 20.12 trillion ($15.76 billion), while its net profit was KRW 776 billion ($607.91 million), down 7.6% from the same quarter of a year earlier. In the second quarter of this year, POSCO produced 8.85 million tonnes of crude steel, up 4.1% from the previous quarter and up 4.7% year on year, as the Pohang Steel plant recovered from the floods. In the given quarter, the Company's finished steel products sales increased by 2.3% sequentially and up by 1.4% year-on-year to reach 8.35 million tonnes.