LG Energy Solution said on the 7th that second-quarter operating profit on a consolidation basis was provisionally tallied at 113.3 billion won, down 77% from a year earlier.

Revenue for the same period rose 24.8% to 7.5602 trillion won.

LG Energy Solution headquarters in Yeouido, Yeongdeungpo-gu, Seoul /Courtesy of News1

Compared with the first quarter of this year, revenue increased 15.3%, and operating profit returned to the black.

The amount received for the advanced manufacturing production tax credit (AMPC) under the U.S. Inflation Reduction Act (IRA) was tallied at 241 billion won.

Excluding the AMPC amount received, revenue was 7.3193 trillion won and the operating loss was 127.7 billion won.

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