Seoul: Lotte Fine Chemical Co. on Thursday reported a net income of 35.2 billion won (US$24.3 million) for the third quarter, marking a significant turnaround from a net loss of 71.6 billion won in the same period last year. The financial results highlight the company's recovery and improved performance over the past year.

According to Yonhap News Agency, the company also disclosed in a regulatory filing that its operating profit for the quarter reached 27.6 billion won, a substantial increase compared to 10.3 billion won recorded in the previous year. Additionally, Lotte Fine Chemical experienced a 5.5 percent rise in revenue, totaling 443.4 billion won for the third quarter.

The company's earnings surpassed market expectations, as analysts had projected an average net profit of 29.2 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. This positive financial outcome indicates a strong performance by Lotte Fine Chemical in the third quarter.