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LG Chem Ltd estimated its operating profit to hit a record-high 902 billion won in the third quarter, surging by 158.7 percent from last year, partly due to robust sales at its electric vehicle (EV) battery units.
The results surpassed the market consensus of 732.8 billion won in the data compiled by Yonhap Infomax.
LG Chem's also had a quarterly record of 7.5 trillion won in sales.
The company also attributed the improved bottom line to the newly-acquired stability of its EV battery plant in Poland. It also operates EV battery plants in South Korea, the US, and China.
LG Chem's list of EV battery customers includes Audi, Volkswagen and Daimler, GM, Ford, Renault, Volvo, Hyundai, and Kia.
The company is on track to achieve an EV battery production capacity of 100-gigawatt hours by the end of 2020, enough to supply for about 1.7 million cars.
It currently has an order backlog worth 150 trillion won.
LG Chem is set to release its third-quarter net result on Oct. 21.
