KEPCO Q3 net surges on asset sales, higher electricity rates

State-run Korea Electric Power Corp. (KEPCO) said Thursday that its third-quarter earnings surged, largely due to gains from asset sales and higher electricity rates.

Net profit reached 9.28 trillion won ($8.16 billion) in the July-September period, compared with a profit of 1.55 trillion won a year earlier, the company said in a regulatory filing.

Operating income also jumped 52 percent on-year to 4.34 trillion won, and sales gained 3.8 percent to 15.47 trillion won over the cited period.

Shares of KEPCO closed at 52,500 won on the Seoul bourse, down 0.94 percent from the previous session’s close.

KEPCO released its third-quarter earnings report about an hour before the market closed.


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