Hyundai Steel Q3 Net Income Surges to KRW 85.5 Billion Despite Operating Profit Decline; Shares Fall 3.05%

Hyundai Steel Co. (004020.KS) reported third-quarter net income attributable to shareholders of KRW 85.5 billion, up sharply from KRW 17.1 billion a year earlier, even as operating income fell 6.5% to KRW 87.1 billion. Shares fell 3.05% to KRW 25,400 on the Korean Stock Exchange following the release. Sales rose to KRW 5.90 trillion from KRW 5.73 trillion in the prior-year period. The results, announced Friday, showed profit growth driven by net income despite weaker operating earnings.