Samsung SDS Co., an IT service unit of Samsung Group, on Tuesday reported strong third-quarter earnings as its quarterly sales reached a record high amid the pandemic.

The company logged a third-quarter net profit of 161 billion won ($142.7 million), up 2.6 percent from a year earlier.

Samsung SDS said its revenue jumped 11.7 percent on-year to 2.96 trillion won in the July-September period, its largest-ever quarterly sales. The company's operating income advanced 6.4 percent on-year to 219.8 billion won over the cited period.

Compared with the second quarter, sales rose 15.6 percent, while operating profit increased 11.8 percent.

Samsung SDS said its solid performance was buoyed by a recovery in IT investments and a resumption of operations from companies.

The company's IT service business posted sales of 1.33 trillion won in the third quarter, up 1.1 percent from the second quarter, with projects related to remote working, smart factories and cloud solutions leading the growth.

Its logistics business process outsourcing service chalked up sales of 1.63 trillion won in the third quarter, up 31 percent from the previous quarter, due to manufacturers' increased product shipment volume.

Samsung SDS said its customers will make more IT investments in the fourth quarter to better deal with the stay-at-home economy induced by the COVID-19 pandemic. (Yonhap)