South Korea's No. 2 chipmaker SK hynix Inc. said Tuesday its second-quarter net profit shot up nearly ninefold, apparently helped by a strong average sales price of dynamic random-access memory (DRAM) and NAND chips.

Net profit came to 2.46 trillion won (US$2.2 billion), soaring from 286 billion won a year earlier, the company said in a regulatory filing.

Operating profit also advanced 573.7 percent over the cited period to reach a record 3.05 trillion won. Sales came to an all-time high of 6.69 trillion won in the April-June period, advancing 69.8 percent on-year.

The figures came in line with an estimated net profit of 2.3 trillion won suggested by local brokerage houses, compiled by Yonhap Infomax, the financial arm of Yonhap News Agency. The securities firms estimated sales and operating profits at 6.8 trillion won and 2.9 trillion won, respectively.

Shares of SK hynix closed at 73,000 won on the main bourse Monday, up 2.53 percent from the previous session. The second-quarter report was released before the market opened Tuesday.

By: DocMemory
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