The operating profit of Hyundai Heavy Industries, the nation’s top shipbuilder, plunged 63 percent to 222.4 billion won ($210 million) from the same period a year ago due to worsening profitability in its shipbuilding and refinery business units, the company said on Thursday.
It is the third consecutive quarter for the company to see a fall in its operating profit.
Sales of the company inched down 0.5 percent to 13.1 trillion won in the third quarter from a year earlier.
The shipbuilder’s net profit in the third quarter compared with the previous quarter swung into the red. The net loss reached 12.5 billion won in the July-September period compared with a profit of 66.9 billion won in the second quarter.
