Seoul: Hyundai Rotem Co., the train manufacturing subsidiary of South Korea's Hyundai Motor Group, has announced a significant increase in its first-quarter net income, reaching 157.1 billion won (US$111.7 million). This marks a 182.5 percent rise compared to the same period last year.
According to Yonhap News Agency, the company's operating income for the January-March period was 202.9 billion won, showing an impressive increase of 354 percent from a year ago. Sales during this period also saw a substantial growth of 57.3 percent, totaling 1.17 trillion won.
The operating profit exceeded expectations, being 3.0 percent higher than the average estimate, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the estimate of net profit was not available for comparison.