Seoul:Samsung Electro-Mechanics Co. has announced a significant increase in its third-quarter net profit, which rose by 115.7 percent to reach 485 billion won (US$362.8 million) compared to the same period last year.

According to Yonhap News Agency, the company, a subsidiary of Samsung Electronics Co., reported that its operating income for the July-September quarter was 691 billion won, marking an increase of 165.5 percent from the previous year. Additionally, the company's revenue grew by 30.3 percent to total 3.76 trillion won.

Despite these impressive financial results, Samsung Electro-Mechanics' earnings fell short of market predictions. Analysts had anticipated a net profit of 509.9 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The company specializes in producing multilayer ceramic capacitors, semiconductor substrates, and camera modules.