Genian’s third-quarter operating profit rises 253% to 3.8 billion won

South Korean cybersecurity company Genian reported third-quarter revenue of 13.8 billion won and operating profit of 3.8 billion won.

Revenue rose 32.2% and operating profit rose 253% from a year earlier, while net profit increased 116.3% to 3.1 billion won.

The company said lower selling and administrative costs helped lift its operating margin to 27.4%, from 10.3%.

Its network access control and endpoint detection and response businesses drove growth, with new demand from public agencies, local governments, hospitals, defence and finance.

These tools help organizations manage which devices connect to their networks and detect suspicious activity on devices.

Genian said stronger demand reflects rising automated cyberattacks and tighter government and financial-sector security rules.

It recently launched a platform combining network and device visibility with threat detection and response, and is preparing a quantum-resistant security gateway for an official launch targeted within the year.