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Ssangyong Motor Q3 loss widens 63.1% YOY

Ssangyong Motor Co. said its normalized net income for the third quarter was a loss of 123.93 South Korean won per share, compared with a loss of 75.75 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 17.01 billion won, compared with a loss of 10.42 billion won in the year-earlier period.

The normalized profit margin fell to negative 2.1% from negative 1.4% in the year-earlier period.

Total revenue climbed 6.7% year over year to 819.45 billion won from 767.77 billion won, and total operating expenses grew from the prior-year period to 823.02 billion won from 796.03 billion won.

Reported net income came to a loss of 27.13 billion won, or a loss of 197.69 won per share, compared to a loss of 15.55 billion won, or a loss of 113.00 won per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.