LS Electric Reports 194.6% Rise in Q3 Net Income to 40.6 Billion Won

SEOUL — LS Electric Co. announced its third-quarter financial performance on Monday, reporting a significant rise in net income.

According to Yonhap News Agency, LS Electric's third-quarter net income stood at 40.6 billion won (approximately US$30 million), up by 194.6% compared to the same quarter last year. The company also recorded an operating profit of 70.1 billion won for the quarter, an improvement over last year's 60.7 billion won. Meanwhile, revenue increased by 21.9%, reaching 1.02 trillion won.

However, these earnings fell short of market expectations. According to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average market estimate for LS Electric's Q3 net profit had been 45.5 billion won.

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