Seoul: HL Mando on Wednesday reported a first-quarter net profit of 53.1 billion won (US$35.9 million), marking a 53.2 percent increase from the previous year. The Korean mobility equipment manufacturer revealed these figures in a regulatory filing, highlighting a significant growth in profitability.

According to Yonhap News Agency, HL Mando posted an operating profit of 93.6 billion won for the quarter, up from 79.2 billion won a year earlier. The company's revenue also experienced an uptick, rising 1.8 percent to 2.31 trillion won. This financial performance exceeded market expectations, as analysts had estimated an average net profit of 43.7 billion won, based on a survey by Yonhap Infomax, the financial data arm of Yonhap News Agency.

The robust earnings underscore HL Mando's successful strategies and market position, as it continues to thrive in the competitive mobility equipment sector.