nTels Q1 2026: Revenue Up, OP Down, Credit Rating Upgraded to A-

Consolidated Q1 2026 revenue 15.996 billion won (+9.4% YoY), operating profit 0.146 billion won, net income 0.626 billion won.
Separate revenue 15.389 billion won (+9.7% YoY), operating profit 0.115 billion won, net income 0.636 billion won.
Operating profit plunged ~72% YoY (separate), but net income decline limited due to foreign exchange gains and other non-operating income.
Credit rating upgraded to A- by Korea Data (Mar 18, 2026), up from BBB+.
Sound financial structure: debt ratio 20.8%, net debt ratio 4.82%, current ratio 378%.
Treasury share activity: acquired 144,500 shares, sold 140,000; period-end holdings 333,410 shares (3.25%). No dividend or share buyback plan.
Long-term contracts with SK Telecom and others (contract assets 6.79 billion won). Order backlog 28.61 billion won.
Full recovery of 3 billion won loan to largest shareholder HFR.