Seoul: Hyundai Mobis Co., South Korea's leading auto parts maker, on Wednesday reported its fourth-quarter net profit of 768.1 billion won (US$536.4 million), marking a decline of 39.9 percent from the previous year.
According to Yonhap News Agency, the company's operating profit for the October-December period was 930.5 billion won, representing a decrease of 5.6 percent compared to the same period last year. Despite the decline in profits, sales increased by 4.7 percent to 15.39 trillion won.
The earnings fell short of market expectations. Analysts had projected an average net profit of 1.05 trillion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.