Doosan Heavy Q1 net dips 58% on one-off factor

Doosan Heavy Industries Co., South Korea's top power equipment maker, said Wednesday its first-quarter profit shrank 58 percent from a year earlier largely due to a one-off factor.

Net profit reached 37.5 billion won ($51.3 million) on a consolidated basis in the January-March period, compared with a profit of 89.7 billion won a year earlier, the company said in a regulatory filing.