Dunamu Reports 88 Billion Won Operating Profit in Q1, Down 78% Year-on-Year
Dunamu, operator of the virtual asset exchange Upbit, announced on May 15 that it posted consolidated sales of 234.6 billion won and an operating profit of 88 billion won in the first quarter of this year. These figures represent decreases of 55% and 78%, respectively, compared to the same period last year. Net profit for the period also fell by 78% year-on-year, reaching 69.5 billion won.
Dunamu explained that the declines in sales and operating profit were due to a decrease in virtual asset market trading volume, which resulted from the global economic slowdown.
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Meanwhile, as Dunamu is classified as a corporation subject to external audit with more than 500 shareholders per security, it has been required to disclose annual business reports and quarterly or semi-annual reports since 2022.
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