Samsung SDI sees Q3 net grow more than 10-fold

Samsung SDI Co., the world’s top maker of plasma display panels and renewable batteries, said Tuesday its net profit jumped more than 10-fold in the third quarter from a year earlier thanks to solid battery sales and a one-off profit.

Net profit came to 1.2 trillion won ($1.1 billion) in the July-September period, compared with a profit of 100 billion won the previous year, the company said in a regulatory filing.

Sales increased 3.8 percent on-year to 1.5 trillion won in the cited period, while operating profit soared 35-fold to 1.5 trillion won.

The stronger bottom line was largely attributed to a 1.4 trillion won one-off stock sales profit from the July 1 merger of its affiliates Samsung Mobile Display and Samsung Display, according to Samsung SDI.

Solid demand for batteries also helped lift its third-quarter net amid booming demand for mobile devices such as tablet PCs.

Samsung SDI said it plans to reinforce its lead in the rechargeable battery and PDP market, while expanding its foothold in the market for car batteries. (Yonhap News)