Hyundai-Rotem Reports 22.3% Increase in Q3 Net Profit to 40 Billion Won

SEOUL, - Hyundai-Rotem Co. disclosed its third-quarter financial results on Thursday, announcing a net income of 40 billion won (US$29.5 million), marking a 22.3 percent increase compared to the same period last year.

According to a new release by the Yonhap News Agency, operating income for the July-September period rose to 41.1 billion won, a 29.2 percent increase from a year earlier. Revenue for the quarter climbed 18.5 percent to reach 927 billion won.

Despite the increase in earnings, the results fell short of market predictions. A survey by Yonhap Infomax, the financial data firm of Yonhap News Agency, had indicated that analysts, on average, estimated a net profit of 43.1 billion won for the company.

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