Seoul:<Text>

Hyundai Rotem on Friday reported its first-quarter net income of 202.7 billion won (US$136.7 million), representing a significant 29 percent increase from the same period last year. The South Korean company attributed the rise to strong sales and improved operational efficiency during the quarter.

According to Yonhap News Agency, Hyundai Rotem disclosed in a regulatory filing that its operating profit for the first quarter reached 224.2 billion won, an increase from 202.9 billion won a year ago. Additionally, the company's sales surged by 23.9 percent, totaling 1.45 trillion won for the quarter.

The operating profit exceeded the average estimate by 2.9 percent, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. However, the average estimate for net profit was not provided. The company's financial performance illustrates its robust market position and effective cost management strategies.