Seoul:Korea Investment Holdings Co. (KIH) has announced a significant decline in its third-quarter net income, reporting 281.8 billion won (approximately US$210.1 million), which marks a 58.2 percent decrease compared to the same period last year.
According to Yonhap News Agency, the company's operating income for the July-September quarter also saw a substantial drop, falling 64.6 percent year-on-year to 300.4 billion won. Despite this decline, sales experienced a notable increase, rising by 85.7 percent to reach 11.18 trillion won.
The reported earnings were below market expectations, with analysts' average net profit estimate standing at 346.4 billion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.