Seoul: Hanwha Systems Co., a defense solutions unit under South Korea's Hanwha Group, on Friday reported its third-quarter net profit of 151.8 billion won (US$106.2 million), jumping nearly 20-fold from a year earlier.
According to Yonhap News Agency, the company stated in a regulatory filing that operating profit for the July-September period fell 62.7 percent on-year to 22.5 billion won. Revenue increased 26.4 percent to 807.7 billion won.
The earnings surpassed market expectations. The average estimate of net profit by analysts was 43.1 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.