Seoul: HD Hyundai Co. on Monday reported its third-quarter net profit of 986.9 billion won (US$690.9 million), up 870.4 percent from a year earlier. The company said in a regulatory filing that it posted 1.7 trillion won in operating profit for the quarter, compared with 431.5 billion won a year ago. Revenue rose 9.8 percent to 18.22 trillion won.
According to Yonhap News Agency, the earnings beat market expectations. The average estimate of net profit by analysts stood at 269.7 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.