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Hyundai Telecommunication Q3 profit falls YOY

Hyundai Telecommunication Co. Ltd. said its normalized net income for the third quarter came to 137.67 South Korean won per share, a decrease of 9.7% from 152.48 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.19 billion won, a decrease of 9.8% from 1.32 billion won in the year-earlier period.

The normalized profit margin declined to 6.2% from 6.3% in the year-earlier period.

Total revenue declined 9.6% year over year to 19.02 billion won from 21.05 billion won, and total operating expenses fell 10.0% on an annual basis to 17.17 billion won from 19.07 billion won.

Reported net income declined 9.9% year over year to 1.90 billion won, or 220.25 won per share, from 2.11 billion won, or 244.00 won per share.

As of Nov. 12, US$1 was equivalent to 1,159.89 South Korean won.