Seoul: Hanwha Aerospace Co., a South Korean defense and space company, reported its third-quarter net income of 712.2 billion won (US$498.5 million), marking a significant increase of 123.8 percent from the previous year.
According to Yonhap News Agency, the company's regulatory filing revealed that the operating profit for the July-September period rose by 79.5 percent year-on-year to 856.4 billion won. Additionally, sales surged by 146.5 percent, reaching 6.48 trillion won.
The reported earnings surpassed market expectations, with the average estimate of net profit by analysts standing at 348.4 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.