SEOUL: HD Hyundai Electric Co. has announced a substantial increase in its third-quarter net income, reporting profits of 116.6 billion won, a 114.7 percent rise from the same period last year. The company’s strong financial performance is attributed to significant growth in operating income and revenue during the July-September period.
According to Yonhap News Agency, HD Hyundai Electric’s operating income for the third quarter reached 163.8 billion won, marking a 91.8 percent increase from the previous year. The company’s revenue also saw an uptick, rising 13.6 percent to 788.7 billion won. The operating profit figures align with the average estimate provided by a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, an estimate for net profit was not available in the survey.
The substantial growth in both net and operating income highlights HD Hyundai Electric’s robust performance in the third quarter, underscoring its continued resilience and strategic business oper
ations in the competitive electric industry.