Seoul: Dongwon Industries Co. on Friday reported its third-quarter net income of 101.5 billion won (US$69.7 million), turning from a loss of 75.1 billion won a year earlier. The company experienced a significant financial turnaround compared to the same period last year.

According to Yonhap News Agency, Dongwon Industries' operating profit for the July-September period was 148.1 billion won, a decrease of 15.1 percent from the previous year. Meanwhile, the company's sales increased by 10.6 percent, reaching 2.58 trillion won during this quarter.

The earnings surpassed market expectations, with the average estimate of net profit by analysts at 72.3 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. This marks a notable achievement for Dongwon Industries as it successfully exceeded the financial forecasts.