Seoul: POSCO Future M Co. on Monday reported its third-quarter net income of 46.4 billion won (US$32.4 million), turning from a loss of 1.2 billion won a year earlier.

According to Yonhap News Agency, the company stated in a regulatory filing that operating profit for the July-September period rose 4773.5 percent on-year to 66.7 billion won. Revenue, however, decreased by 5.2 percent to 874.8 billion won.

The earnings surpassed market expectations, with the average estimate of net profit by analysts standing at 22 billion won, as reported by a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.