Hyundai Home Shopping Q3 Operating Profit 38.6 Billion KRW... Up 90.6% YoY

[Asia Economy Reporter Seungjin Lee] Hyundai Home Shopping announced on the 6th that its operating profit for the third quarter of this year reached 38.6 billion KRW, a 90.6% increase compared to the same period last year.

Hyundai Home Shopping's sales for the third quarter of this year were 574.9 billion KRW, a 7.4% increase compared to the same period last year. Net profit for the same period was 38.6 billion KRW, a 46.9% growth compared to the previous year.

Specifically, Hyundai Home Shopping TV broadcasts saw a 4.7% increase in transaction volume compared to the previous year in the third quarter, driven by strong sales of high-margin broadcast products such as food, kitchen, and home interior items. Operating profit increased by 30.0% year-on-year due to improved gross profit margin and efficiency in selling and administrative expenses, focusing on profitability.

Hyundai L&C saw a significant improvement in operating profit by 254.2% year-on-year due to improved profit margins from raw material price declines and cost efficiency.

Hyundai Rental Care recorded an operating loss of 6 billion KRW, slightly wider than last year, due to increased expenses such as expanded media advertising aimed at strengthening brand awareness in the mid to long term. The company plans to reduce the deficit through sales growth driven by stable net account increases in the future.

This content was produced with the assistance of AI translation services.