Seoul: Hyundai Wia Corp., a South Korean auto parts maker, reported a 2.7 percent decrease in its fourth-quarter net income, totaling 56.7 billion won (US$39.5 million).

According to Yonhap News Agency, Hyundai Wia's regulatory filing revealed an operating profit of 47.7 billion won for the quarter, a decrease from 54.7 billion won in the previous year. Despite the decline in profit, the company experienced a 4.1 percent increase in revenue, reaching 2.08 trillion won.

Yonhap Infomax, the financial data firm of Yonhap News Agency, noted that the operating profit fell 3.5 percent short of the average estimate. However, the net profit estimate was not provided.