Seoul: SK Biopharmaceuticals Co., a biopharmaceutical arm of SK Group, on Wednesday reported its third-quarter net income of 71.4 billion won (US$49.4 million), up more than tenfold from 6.3 billion won recorded during the same period last year.

According to Yonhap News Agency, the company announced in a regulatory filing that its operating profit for the July-September period saw a significant increase of 262.4 percent year-on-year, reaching 70.1 billion won. Additionally, revenue for the quarter grew by 40.4 percent to 191.7 billion won.

The operating profit exceeded expectations by 27.2 percent, based on an average estimate from a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the estimate for net profit was not available.