South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced its financial results for the third quarter this year, reporting a net profit of KRW 224.08 billion ($211.9 million), decreasing by 60.3 percent compared to the same quarter of the previous year.
In the third quarter of the current year, POSCO's sales revenue amounted to KRW 16.27 trillion ($15.4 billion), up 7.4 percent year on year. Meanwhile, its operating profit for the given quarter amounted to KRW 878.7 billion ($831.2 million), up 38.4 percent compared to the corresponding period of 2013.
In the given quarter of the current year, POSCO produced 9.52 million mt of crude steel, increasing by 6.7 percent, while the company's steel product sales amounted to 8.67 million mt, up 4.9 percent, both year on year.