SEOUL: Hanssem Co. on Tuesday reported its third-quarter net profit of 93 billion won (US$67.6 million), shifting from a loss of 13.1 billion won a year earlier. The report marks a significant turnaround for the company, which had previously been in the red during the same period last year.

According to Yonhap News Agency, the company’s operating income for the July-September period was 7.3 billion won, representing a 48.1 percent increase from the previous year. Despite this growth in operating income, Hanssem Co. experienced a 5.6 percent decline in revenue, totaling 454.1 billion won.

The operating profit figures did not meet expectations, falling 27.6 percent short of the average estimate based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. However, the estimate of net profit was not provided in the report.