Seoul: Hyundai Engineering and Construction (E and C) Co. on Friday reported a significant increase in its third-quarter net profit, which rose to 67.8 billion won (US$47.5 million), marking a 69.1 percent increase from the same period last year.
According to Yonhap News Agency, the company's operating income for the July-September quarter was 103.5 billion won, representing a decline of 9.4 percent compared to the previous year. Additionally, revenue saw a decrease of 5.2 percent, totaling 7.82 trillion won. Despite these declines in operating income and revenue, the net earnings surpassed market expectations, as analysts had projected an average net profit of 52.6 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.