GS Engineering & Construction Co., a South Korean construction firm, said Wednesday that its third-quarter net profit soared 67 percent from a year earlier on a boom in the local property market.

Net profit reached 53.4 billion won ($47.2 million) in the July-September period, compared with a profit of 1.2 billion won a year earlier, the company said in a regulatory filing.

Operating income dropped 54 percent on-year to 11 billion won in the third quarter, while sales surged 21 percent to 2.79 trillion won over the cited period.

Stocks of GS Engineering closed at 24,200 won on the Seoul bourse, down 0.62 percent from the previous session's close.

The third-quarter bottom line was revealed after the market closed. (Yonhap)