LG Energy Q3 net rises 34% amid slowdown in EV sales

This undated file photo shows LG Energy Solution Ochang Energy Plant. Courtesy of LG Energy Solution LG Energy Solution, Korea's leading battery maker, said Monday its third-quarter net profit surged 34 percent from a year earlier amid slowing sales of electric vehicles. Net profit for the three months to September rose to 561.

3 billion won ($404 million) from 420.5 billion won during the same period of last year, the company said in a regulatory filing. But operating profit plunged 39 percent on-year to 448.



3 billion won from 731.2 billion won over the cited period. Sales fell 16 percent to 6.

87 trillion won from 8.22 trillion won during the same period. From January to September, net income plummeted 48 percent to 749.

6 billion won from 14.47 trillion won in the year-ago period. (Yonap).