(LEAD) POSCO operating profit more than doubles in Q1

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SEOUL, April 12 (Yonhap) -- South Korea's leading steelmaker POSCO estimated Monday its operating profit more than doubled in the first quarter from a year earlier amid the COVID-19 pandemic.

Operating profit for the January-March quarter jumped to 1.55 trillion won (US$1.4 billion) from 705.3 billion won during the same period of last year, the company said in a regulatory filing.

The company did not provide details on what drove up the operating profit.

Sales rose 9.9 percent to 15.99 trillion won in the first quarter from 14.55 trillion won a year ago, it said.

The company plans to release its final quarterly results later this month.

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