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Korea Zinc Q3 net income soars 218.6% to $167.9 mil.

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By Yonhap
  • Published KST
The logo of Korea Zinc at the company's headquarters in Jongno Disctrict, Seoul / Courtesy of Korea Zinc

The logo of Korea Zinc at the company's headquarters in Jongno Disctrict, Seoul / Courtesy of Korea Zinc

Korea Zinc Inc. on Wednesday reported its third-quarter net income of 225.4 billion won ($167.9 million), a surge of 218.6 percent from a year earlier.

Operating profit for the July-September period, however, stood at 141.7 billion won, down 48.2 percent from a year ago, the company that produces various metals and engages in renewable-related businesses said in a regulatory filing. Sales rose 46.3 percent to 6.08 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 271.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.