Seoul: Hyundai Mobis Co. on Friday announced its first-quarter net profit of 1.03 trillion won (US$719.7 million), marking an increase of 19.6 percent from the same period last year.
According to Yonhap News Agency, the company revealed in a regulatory filing that its operating profit for the January-March period experienced a significant rise of 43.1 percent year-on-year, reaching 776.7 billion won. Additionally, the company's revenue saw an increase of 6.4 percent, totaling 14.75 trillion won.
The earnings report surpassed market expectations, as analysts had projected an average net profit estimate of 999.1 billion won. This projection was derived from a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.