SEOUL, Oct 29 (Reuters) - South Korea’s SK Hynix Inc posted a record quarterly profit on Tuesday as a rally in computer memory chip prices helped cushion reduced output following a fire at its plant in China.
The world’s second-biggest memory chipmaker reported 1.2 trillion won ($1.1 billion) in operating profit for July-September, above analysts’ consensus forecast of 1.08 trillion won by Thomson Reuters I/B/E/S.
The result compares with a 1.1 trillion won profit in the second quarter and a loss of 24 billion won a year ago.
Hynix, which competes with market leader Samsung Electronics Co Ltd, Japan’s Toshiba Corp and U.S.-based Micron Technology Inc, has yet to fully restore operations at the damaged Chinese plant, which produced around 15 percent of global computer memory chips before last month’s blaze. ($1 = 1061.0500 Korean won) (Reporting by Miyoung Kim; Editing by Stephen Coates and Richard Pullin)