Seoul: Samsung Electro-Mechanics Co. on Tuesday announced a significant decrease in its third-quarter net income, which fell by 24.7 percent to 124.2 billion won (US$89.9 million) compared to the same period last year. Despite the decline in net profit, the company experienced growth in both operating profit and revenue during this period.
According to Yonhap News Agency, the company’s regulatory filing revealed that its operating profit for the July-September period saw an increase of 19.5 percent on-year, reaching 224.9 billion won. Additionally, revenue rose by 11 percent, totaling 2.61 trillion won. The rise in operating profit was consistent with the average estimate from a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, an estimate for the net profit was not available in the survey.