Toss Reports Operating Profit of 2.8 Billion KRW in 2Q... First Quarterly Surplus

원본보기 아이콘

Viva Republica, the operator of the mobile financial service Toss, announced on the 14th that its consolidated operating profit for the second quarter of this year was 2.8 billion KRW. This marks a turnaround from a loss of 62.5802 billion KRW in the second quarter of last year, recording the first quarterly profit since its founding in 2013.

The consolidated operating revenue (sales) for the first half of this year reached a record high of 914.1 billion KRW, a 39.7% increase compared to the same period last year. Operating loss decreased by 91.5% to 9.4 billion KRW, and net loss for the period fell by 81.8% to 20.1 billion KRW.

The strong performance is attributed to the growth of consumer-related services such as loan brokerage·simple payment·advertising·and tax services. Simple payment grew through the expansion of domestic and international payment channels and the activation of commerce and BrandCon (mobile voucher sales business). In April, the company also launched tax services by acquiring TexasSoft, the operator of the tax platform 'SaveIt'.

Lee Seung-geon, CEO of Toss, said, "Balanced growth across services is the driving force behind the record performance," adding, "We will continue to provide users with the best financial experience and innovative services."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.