Seoul: LG Electronics Inc., South Korea's leading home appliance manufacturer, reported a significant increase in its third-quarter net income, reaching 461 billion won (US$323.1 million), marking a 411.1 percent rise from the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the July-September period saw a decline of 8.4 percent year-on-year, totaling 688.9 billion won. Meanwhile, sales experienced a slight decrease of 1.4 percent, amounting to 21.87 trillion won.
Despite the dip in operating profit, the figure exceeded market expectations by 14.5 percent, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The survey did not provide an estimate for net profit.