Seoul: HL Mando on Thursday reported its second-quarter net income of 58.8 billion won (US$40.9 million), marking an increase of 493.9 percent from the same period last year.

According to Yonhap News Agency, the Korean mobility equipment manufacturer disclosed in a regulatory filing that its operating income for the April-June period reached 107 billion won, reflecting a 2.8 percent rise from the previous year. The company's revenue also saw an increase of 3.9 percent, amounting to 2.49 trillion won.

The reported earnings surpass market expectations, as analysts had projected an average net profit estimate of 47.4 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.