The shipbuilder posted earnings of KRW 22.5bn ($21m) for the three months to the end of March, improving from the KRW 34.87bn loss seen during the first quarter of last year.
This means Mipo has been profitable for two consecutive quarters following net income of KRW 16.97bn recorded in the last months of 2014.
Sales for the first quarter of 2015 grew to KRW 1.07
