Samsung SDI said Oct. 29 its third-quarter net profit increased slightly due to gains from equity ties with its affiliates.
Net profit for the July-September period stood at 217.3 billion won ($186 million), compared with 214 billion won from a year earlier, the company said in a regulatory filing.
Sales rose 1.8 percent on-year to 2.56 trillion won in the third quarter, but operating profit plunged 31 percent on-year to 165 billion won in the cited period.
The Samsung Group affiliate said its net profit increased on the back of equity ties with Samsung Display. Samsung SDI holds a 15.2 percent stake in Samsung Display.
Samsung SDI said its battery business posted 1.95 trillion won in sales, up 1.5 percent from a year ago, thanks to robust sales of mid- to large-sized batteries used for electric vehicles and energy storage systems.
The company logged 614.3 billion won in sales from its electronic material business, up 2.7 percent from a year earlier, on the back of solid sales of display materials.
By Ram Garikipati and newswires (firstname.lastname@example.org)