Seoul: Hyundai Rotem Co. reported a substantial increase in its third-quarter net income, reaching 198.4 billion won (US$139 million), marking a 91.2 percent rise from the previous year. This significant growth indicates the company's strong financial performance for the period.
According to Yonhap News Agency, Hyundai Rotem's operating income for the July-September period was 277.7 billion won, representing a 102.1 percent increase from the same period last year. The company's revenue also saw a notable rise, climbing 48.1 percent to 1.61 trillion won.
The operating profit exceeded the average estimate by 3.5 percent, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. However, the estimate for net profit was not provided.