Seoul: SK Bioscience Co. on Monday reported its third-quarter net profit of 21.1 billion won (US$14.8 million), swinging from a loss of 22.3 billion won a year earlier. The company attributed this positive shift to improved financial performance over the past year.

According to Yonhap News Agency, the company revealed in a regulatory filing that it continued to experience an operating loss of 19.4 billion won for the July-September period. However, this marks an improvement when compared with a larger loss of 39.6 billion won in the same quarter the previous year. Furthermore, the company's revenue saw a significant increase of 144.6 percent, reaching 150.8 billion won.