Next slide please. This conference call will take an hour. Before we go into the Q&A session, please allow me to highlight our Q2 results, performance highlight and outlook.
Moving on to the revenue and profits on the next slide, during second quarter the demand in Europe and China turned out should be weaker than accepted due to macro-economic situation which resulted in some of the set makers down for the order adjustment. In addition, LG Display strategically cut back supplying the low profitability products. Due to these factors, the shipment increases in second quarter turned out to be lower than expectation.
However, since we managed to increase the portion of a high end premium products such as tablet and FPR 3D in sales. We recorded a high to quarterly revenue in the second quarter at KRW 6.9 trillion up to a percent quarter-on-quarter. Our profitability improved in second quarter mainly due to the increased sales of high end premium products. So operating loss was significantly reduced to KRW 26 billion.
If we excluded the provision for the anti-trust lawsuit from our operating line in second quarter. We would have been turned out to be profitable. Operating profit margin was minus 0.4% while we recorded EBITDA margin of 15%, income before tax was negative KRW 78 billion and net income was negative KRW 112 billion. Moving on to slide four, looking at our financial positions and ratios.Cash and cash equivalent rose by KRW 262 billion to KRW 2.7 trillion. Inventory increased by KRW 371 billion to KRW 2.6 trillion. It is mainly due to our customers sound right (ph) order adjustment at the end of second quarter. Effected by the macroeconomic situation. In addition the product mix improvement with more high end premiums product portion also affected the inventory in March.
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