Hanwha Solutions records net 138.6 billion won in third quarter

Hanwha Solutions' solar panel factory in Jincheon, North Chungcheong [YONHAP]

Hanwha Solutions logged a lower-than-expected net profit of 138.6 billion won ($97.4 million) for the third quarter, down 28.4 percent on year.

The figure fell short of the market expectation of 182.5 billion won compiled by FnGuide.

Operating profit jumped 95.3 percent to a record 348.4 billion won, beating the expectation of 273.4 billion won. Its sales came to 3.36 trillion won, up 30.4 percent on year but still missing the forecast of 3.40 trillion won.

Strong solar panel demand in the United States and European regions drove sales up, according to the company. The solar business made for 56.6 percent of the operating profit with 197.2 billion won, a turnaround from the same period a year earlier.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]