Debt-ridden Korea Electric Power Corporation(KEPCO) has reported an operating loss of some two trillion won for this year’s second quarter despite having hiked electricity rates by nearly 40 percent since last year. 

The state-run firm on Friday reported an operating loss of nearly two-point-three trillion won for the April-to-June period based on a tentative estimate. 

The figure is down from an operating loss of some six-point-five trillion won posted in the same period last year and from an operating loss of nearly six-point-two trillion recorded in the first quarter.

During the second quarter, KEPCO reported revenue of some 19 point-six trillion won, up more than 26 percent on-year while posting a net loss of one-point-nine trillion won.

As a result, KEPCO has run a loss for the ninth consecutive quarter since the second quarter of 2021, raising accumulative operating losses to roughly 47-and-a-half trillion won.