KT net profit slips on year to ￦326.2 billion in third quarter

KT logged a net profit of 326.2 billion won ($235 million) for the third quarter, down 3.4 percent on year.

KT logged a net profit of 326.2 billion won ($235 million) for the third quarter, down 3.4 percent on year.

The figure missed the analyst forecast of 345.9 billion won compiled by FnGuide.

The operating profit rose 18.4 percent to 452.9 billion won, beating the expectation of 441.5 billion won. Its sales came to 6.48 trillion won, up 4.2 percent, also above the forecast of 6.43 trillion won.

Non-telecom businesses, including business-to-business services, drove the profit, said KT.

Moreover, KT’s content subsidiaries, including KT Studio Genie, delivered a strong performance in the July-September period with a 24.7 percent increase in sales, due largely to the hit legal drama “Extraordinary Attorney Woo.”

“Despite uncertainty in the business environment such as inflation, KT has achieved growth of its Digico [non-telecom] businesses and business-to-business services,” said Kim Young-jin, KT's chief financial officer.

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