HD Hyundai Electric Q2 net profit jumps to 161.2 bln won

HD Hyundai Electric Co. on Tuesday reported its second-quarter net profit of 161.2 billion won (US$116.5 million), up 331 percent from a year earlier. The company said in a regulatory filing that it posted 210 billion won in operating profit for the quarter, compared with 58.8 billion won a year ago. Revenue rose 42.7 percent to 916.9 billion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 94.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency