Seoul: Hanwha Systems on Tuesday reported a second-quarter net profit of 52.7 billion won (US$36 million), marking a 13.7 percent increase from the same period last year. The defense and ICT company revealed this growth in a regulatory filing, highlighting its strong quarterly performance.

According to Yonhap News Agency, Hanwha Systems achieved an operating profit of 103.7 billion won for the quarter, which is a significant rise from the 32.5 billion won recorded in the previous year. Additionally, the company experienced a 45.5 percent increase in sales, reaching 1.11 trillion won.

This positive performance exceeded market expectations, as analysts had predicted an average net profit of 45.1 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.