[THE INVESTOR] SK Telecom said on Oct. 30 that its third quarter net profit rose 32.4 percent from a year earlier.
Net income reached a record high of 1.04 trillion won (US$910.40 million) in the July-September period, compared with a profit of 793 billion won for the same period the previous year, the company said in a regulatory filing.
SK Telecom said shareholding gains from SK hynix gave a boost to its quarterly bottom line. SK Telecom holds a controlling 20.1 percent stake in the world’s second-biggest chipmaker by sales.
SK hynix’s third quarter net profit surged 53.6 percent on-year to 4.69 trillion won on record sales of 11.4 trillion won.
Still, SK Telecom said its operating profit fell 22.5 percent on-year to 304.1 billion won in the third quarter, while sales dropped 5.77 percent to 4.18 trillion won over the cited period.
By Song Seung-hyun and newswires (email@example.com)