Daehan Shipbuilding (KRX:439260) posted first-quarter net income attributable to shareholders of 77.4 billion won, up 28% from 60.6 billion won a year earlier, according to a Wednesday filing with the Korea Exchange.

The South Korean shipbuilder's sales rose 0.2% year over year to 308.3 billion won from 307.7 billion won.

Shares of Daehan Shipbuilding fell over 2% in recent trade.