Seoul: Lotte Wellfood Co. on Tuesday reported its third-quarter net income of 49.9 billion won (US$34.7 million), marking an 8.2 percent increase from the same period last year.

According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating income for the July-September period decreased by 8.9 percent year-on-year, amounting to 69.3 billion won. Meanwhile, sales for the quarter rose by 7.3 percent, reaching 1.15 trillion won.

The reported earnings surpassed market expectations, as analysts had predicted an average net profit of 46.4 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.