Seoul: S-1 Corp., a security firm under Samsung Group, reported its third-quarter net profit of 48.3 billion won (US$33.9 million), reflecting an 11.1 percent decrease from the same period last year. The financial results were released on Friday, highlighting a challenging quarter for the company.

According to Yonhap News Agency, despite the decline in net income, S-1 Corp. experienced a 3.1 percent increase in operating income, reaching 62.1 billion won for the July-September period. The company’s revenue also saw a rise, increasing by 2.3 percent to 698.7 billion won.

The figures indicate a mixed performance for S-1 Corp., with growth in operating income and revenue, but an overall decrease in net profit. This financial update comes amid a competitive market environment and evolving demands within the security industry.