Hyundai Mobis Co. on Wednesday reported its first-quarter net income of 841.8 billion won (US$629.1 million), up 61.6 percent from a year earlier.
The company said in a regulatory filing that it posted 418.1 billion won in operating profit for the quarter, compared with 386.9 billion won a year ago. Sales rose 29.7 percent to 14.66 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 730.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency