Seoul: HD Hyundai Electric on Tuesday reported its second-quarter net income of 206.1 billion won (US$140.8 million), marking a 45.2 percent increase from the same period last year.

According to Yonhap News Agency, the energy solution provider also announced an operating profit of 287 billion won for the April-June period, representing a 37.3 percent rise from the previous year. Revenue for the quarter saw a 26 percent increase, reaching 1.14 trillion won.

Despite the significant growth, the quarterly earnings for the power transformer manufacturer did not meet market expectations. Analysts had predicted an average net profit of 236.4 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.