Seoul: KT Corp., South Korea's No. 2 mobile carrier, reported a substantial increase in its third-quarter net profit, reaching 445.3 billion won (US$307.1 million), marking a 16.2 percent rise compared to the same period last year.

According to Yonhap News Agency, the company revealed in a regulatory filing that its operating profit for the quarter amounted to 538.2 billion won, up from 464.1 billion won in the previous year. Additionally, the firm's revenue experienced a 7.1 percent increase, totaling 7.12 trillion won.

The financial results surpassed market expectations, with analysts' average net profit estimate set at 354.7 billion won, as per a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.