Kakao Pay Corp. (377300.KS), a South Korean mobile payment and digital wallet service provider, on Monday said that it turned to profit in the fourth quarter from last year quarter's loss, helped by higher sales.
The company posted net income attributable to shareholders of parent company of KRW 45.24 billion in the fourth quarter, compared to loss of KRW 13.72 billion in the same period last year.
Pre-tax net income from continuing operation came in at KRW 77.47 billion in the fourth quarter, compared to pre-tax loss from continuing operation of KRW 5.19 billion in the prior year period.
Quarterly sales climbed to KRW 269.83 billion from KRW 218.18 billion in the corresponding period a year ago.
On the KSE, 377300.KS ended Friday's trading at KRW 63,600.00, down KRW 1,300.00 or 2 percent.
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