HD Hyundai Electric Q1 net profit up 224.3 pct to 93.4 bln won

SEOUL, HD Hyundai Electric Co. on Tuesday reported its first-quarter net profit of 93.4 billion won (US$67.8 million), up 224.3 percent from a year earlier.The company said in a regulatory filing that it posted 128.8 billion won in operating profit for the quarter, compared with 46.3 billion won a year ago. Revenue rose 40.9 percent to 801 billion won.The earnings beat market expectations. The average estimate of net profit by analysts stood at 56.9 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.Source: Yonhap News Agency