Seoul: Hyundai Rotem Co., the train manufacturing subsidiary of Hyundai Motor Group, on Tuesday reported its second-quarter net profit of 189.5 billion won (US$136.4 million), marking an 88 percent increase from the previous year.
According to Yonhap News Agency, the company achieved an operating income of 257.6 billion won during the April-June period, reflecting a 128.4 percent rise from the same period last year. Revenue for the quarter also increased by 29.5 percent, reaching a total of 1.41 trillion won.
The operating profit surpassed expectations, coming in 3.6 percent higher than the average estimate from a survey conducted by Yonhap Infomax, the financial data firm affiliated with Yonhap News Agency. However, the estimate for net profit was not disclosed.