Seoul: Hyosung TNC Corp. has announced a striking 480.3 percent increase in its second-quarter net income, reaching 123.9 billion won (US$86.6 million). This significant rise was revealed on Friday in a regulatory filing by the textile and trading company.

According to Yonhap News Agency, Hyosung TNC's operating income for the April-June period rose to 188.8 billion won, marking a 157.5 percent increase from the previous year. The company's sales also experienced a substantial boost, climbing 27.9 percent to 2.41 trillion won.

The operating profit exceeded expectations by 18.5 percent, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, an estimate for the net profit was not provided.