SEOUL (Reuters) - South Korean steelmaker POSCO said on Wednesday its quarterly operating profit rose 7.5 percent year-on-year, mostly in line with estimates, as weak steel demand continues to pressure margins.
POSCO, the world's sixth-biggest steelmaker, said operating profit in the April to June quarter was 607 billion won ($531.42 million) on a parent-only basis, around a consensus forecast of 597 billion won compiled by Thomson Reuters I/B/E/S.
The parent-only measure refers to earnings from POSCO's steel business, and excludes profit from affiliates.
The figure compared with 565 billion won in operating profit in the same period a year earlier, and 622 billion won in the January-March quarter.
($1=1,142.2200 won)
(Reporting by Joyce Lee; Editing by Miral Fahmy and Clarence Fernandez)