Seoul: Kolmar Korea Co., a South Korean cosmetics and pharmaceuticals manufacturer, reported a significant increase in its third-quarter net profit, reaching 42.4 billion won (US$29.2 million), marking a 79.3 percent rise from the previous year.

According to Yonhap News Agency, the company's operating profit for the July-September period was 58.3 billion won, reflecting a 6.9 percent increase compared to the same period last year. The company also saw a 9 percent rise in sales, totaling 683 billion won.

The reported earnings surpassed market expectations, as analysts had estimated an average net profit of 32.6 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.