Seoul: HD Hyundai Electric Co. on Thursday reported its third-quarter net income of 191.1 billion won (US$132.7 million), marking a 63.9 percent increase from a year earlier. The company's financial performance in the July-September period showed significant growth, surpassing market expectations.
According to Yonhap News Agency, the company's operating profit for the third quarter rose 50.9 percent on-year to 247.1 billion won, while revenue increased by 26.2 percent to 995.4 billion won. These results exceeded analysts' forecasts, as the average estimate of net profit was 184 billion won based on a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.