SK hynix, the world’s No. 2 memory chip maker, said Thursday its net profit surged 348.9 percent in the first quarter from a year earlier on the back of improved sales in dynamic random access memory chips.
Net profit came to 802.2 billion won ($771.7 million) in the January-March period, soaring from 178.7 billion won in 2013, the company said in a regulatory filing. Revenue gained 34.6 percent on-year to 3.74 trillion won in the first quarter, and operating profit also jumped to 1.05 trillion won from last year’s 316.9 billion won.
The last time operating profit went over the 1 trillion won level was in the third quarter of 2013. SK hynix said the stronger bottom line came from solid sales of DRAMs and the full-fledged normalization of its production line in China from January after a stall from a fire in September last year. (Yonhap)
