Cosmo Chemical returns to profitability in Q3

Cosmo Chemical said on Monday that it recorded 130.7 billion won in revenue and 10.2 billion won in operating income during the third quarter this year.

Revenue increased 56% year-on-year and operating income jumped 877% from a year ago.

Its net income during the quarter was 3.6 billion won, a return to profitability from 2020.

Cosmo Chemical said its subsidiary Cosmo AM&T’s battery material business led the growth.

The subsidiary contributed 76.9 billion won in revenue and 6.2 billion won in operating income. It saw sales of LCO and NCM cathodes increase during the quarter, Cosmo Chemical said.