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Hyundai Telecommunication Q2 profit climbs 40.7% YOY

Hyundai Telecommunication Co. Ltd. said its normalized net income for the second quarter amounted to 256.97 South Korean won per share, a gain of 40.9% from 182.43 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 2.22 billion won, a gain of 40.7% from 1.57 billion won in the year-earlier period.

The normalized profit margin rose to 10.1% from 6.8% in the year-earlier period.

Total revenue decreased year over year to 22.09 billion won from 23.03 billion won, and total operating expenses decreased 9.2% year over year to 18.60 billion won from 20.49 billion won.

Reported net income increased 40.7% year over year to 3.55 billion won, or 411.13 won per share, from 2.52 billion won, or 291.84 won per share.

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