Seoul: HD Hyundai Electric Co. on Monday reported its fourth-quarter net profit of 123.9 billion won (US$85 million), marking a decline of 10.9 percent from the previous year. The company disclosed in a regulatory filing that its operating profit for the quarter reached 166.3 billion won, which is an increase from 124.7 billion won recorded a year ago. Meanwhile, revenue rose by 2.3 percent to 815.7 billion won.

According to Yonhap News Agency, the company's operating profit was 24.9 percent below the average estimate, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. However, the net profit estimate was not provided.