SEOUL, HD Hyundai Electric Co. on Tuesday reported its first-quarter net profit of 93.4 billion won (US$67.8 million), up 224.3 percent from a year earlier.
The company said in a regulatory filing that it posted 128.8 billion won in operating profit for the quarter, compared with 46.3 billion won a year ago. Revenue rose 40.9 percent to 801 billion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 56.9 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency