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Hyundai Wia Q2 profit climbs 8.2% YOY

HYUNDAI WIA Corp. said its normalized net income for the second quarter amounted to 3,699.56 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 4,232.87 won per share.

EPS increased year over year from 3,528.97 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 98.27 billion won, an increase of 8.2% from 90.80 billion won in the prior-year period.

The normalized profit margin rose to 4.9% from 4.7% in the year-earlier period.

Total revenue grew on an annual basis to 2.004 trillion won from 1.931 trillion won, and total operating expenses rose year over year to 1.871 trillion won from 1.784 trillion won.

Reported net income rose 9.9% from the prior-year period to 119.42 billion won, or 4,495.78 won per share, from 108.65 billion won, or 4,222.99 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.