Hyundai Rotem reports 160% jump in Q3 net income

Hyundai Rotem's bi-level rail cars supplied to the Massachusetts Bay Transportation Authority. [HYUNDAI ROTEM]
Hyundai Rotem's bi-level rail cars supplied to the Massachusetts Bay Transportation Authority.

Hyundai Rotem on Monday reported its third-quarter net income of 103.8 billion won ($74.7 million), up 159.8 percent from a year earlier.

The company said in a regulatory filing that it posted 137.4 billion won in operating profit for the quarter, compared with 41.1 billion won a year ago. Sales rose 18 percent to 1.09 trillion won.

The operating profit was 16.8 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Yonhap