Hyundai Steel-Q3 earnings

Hyundai Steel swings to profits in Q3

SEOUL, Oct. 28 (Yonhap) -- Hyundai Steel Co. on Thursday reported its third-quarter net profit of 595.9 billion won (US$509.1 million), turning from a loss of 44.7 billion won a year earlier.

Operating income for the July-September period was 826.2 billion won, up 2373.7 percent from a year ago, the company said in a regulatory filing. Revenue rose 31.3 percent to 5.86 trillion won.

The operating profit was 1.2 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

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