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Hyundai Industrial Q3 profit falls YOY

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Hyundai Industrial Q3 profit falls YOY

Hyundai Industrial Co. Ltd. said its third-quarter normalized net income amounted to 117.59 South Korean won per share, a decrease of 8.1% from 127.97 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 1.80 billion won, a decline of 5.9% from 1.91 billion won in the year-earlier period.

The normalized profit margin dropped to 4.2% from 5.0% in the year-earlier period.

Total revenue grew 11.2% year over year to 42.38 billion won from 38.11 billion won, and total operating expenses climbed 13.7% from the prior-year period to 40.06 billion won from 35.23 billion won.

Reported net income rose 47.5% on an annual basis to 2.18 billion won, or 142.58 won per share, from 1.48 billion won, or 99.00 won per share.

As of Nov. 24, US$1 was equivalent to 1,152.05 South Korean won.