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Lotte Chemical Q3 profit climbs 33.7% YOY

Lotte Chemical Corp. said its third-quarter normalized net income amounted to 14,879.23 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 14,113.26 won per share.

EPS increased 31.4% year over year from 11,324.18 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 509.99 billion won, a gain of 33.7% from 381.52 billion won in the prior-year period.

The normalized profit margin climbed to 12.8% from 11.1% in the year-earlier period.

Total revenue rose 16.4% on an annual basis to 3.990 trillion won from 3.427 trillion won, and total operating expenses increased 15.8% year over year to 3.224 trillion won from 2.783 trillion won.

Reported net income grew 36.7% from the prior-year period to 616.16 billion won, or 17,977.00 won per share, from 450.89 billion won, or 13,383.00 won per share.

As of Nov. 14, US$1 was equivalent to 1,114.97 South Korean won.