Hanwha Systems Reports Significant Drop in Q3 Net Income by 80.2 Percent.

SEOUL: Hanwha Systems on Tuesday reported its third-quarter net income of 8.1 billion won (US$5.9 million), marking a substantial decrease of 80.2 percent compared to the same period last year. According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the July-September period experienced an impressive increase of 43.7 percent year-on-year, reaching 57 billion won. Additionally, sales saw a modest rise of 3 percent, totaling 639.2 billion won. The company's operating profit surpassed expectations by 24.4 percent, as projected by a survey conducted by Yonhap Infomax, the financial data firm associated with Yonhap News Agency. However, estimates for net profit were not available at the time of reporting.