Korea Investment & Securities Q3 Net Profit 258.9 Billion KRW... Up 106.6% YoY
[Asia Economy Reporter Dongwoo Lee] Korea Investment & Securities announced on the 16th that it recorded a net profit of 258.9 billion KRW in the third quarter of this year.
The net profit increased by 106.6% compared to the previous year. The cumulative net profit was 420.8 billion KRW, a decrease of 21.09% compared to the third quarter of last year (533.3 billion KRW).
During the same period, cumulative sales (operating revenue) increased by 46% to 12.017 trillion KRW, while operating profit decreased by 27.8% to 481.1 billion KRW.
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A Korea Investment & Securities official stated, "Although we recorded a net loss in the first quarter due to the global stock market downturn caused by the spread of COVID-19, we succeeded in turning a profit in the second quarter as most of the valuation losses on held assets were recovered."
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