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Hyundai Telecommunication Q1 profit climbs YOY

Hyundai Telecommunication Co. Ltd. said its first-quarter normalized net income amounted to 145.19 South Korean won per share, a gain from 17.38 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 1.25 billion won, an increase from 149.7 million won in the year-earlier period.

The normalized profit margin climbed to 6.9% from 1.2% in the year-earlier period.

Total revenue grew 44.2% on an annual basis to 18.24 billion won from 12.65 billion won, and total operating expenses increased 30.9% year over year to 16.31 billion won from 12.46 billion won.

Reported net income grew year over year to 2.00 billion won, or 232.28 won per share, from 239.0 million won, or 27.75 won per share.

As of May 18, US$1 was equivalent to 1,087.94 South Korean won.