Seoul: GS Engineering and Construction (E and C) Corp. announced a third-quarter net income of 122.1 billion won (US$85.1 million), marking a 1 percent increase from the previous year.

According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the quarter was 148.5 billion won, a notable rise from 81.8 billion won in the same period last year. Sales experienced a 3.2 percent growth, reaching 3.2 trillion won.

The operating profit surpassed the average estimate by 46.0 percent, as reported by a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. However, an estimate for the net profit was not provided.