Hanwha Q Cells saw its gross profit rise 59.2% in the third quarter of 2015 to $93m, up from $58.4m in the second quarter of the year.
The company said the increase was primarily down to higher revenues and further improvements in its cost structure.
Net revenues were $427m in the third quarter, up 26.4% on the previous quarter.
Solar module shipments were up 31% at 805MW, including external shipmens of 742MW, 11MW of OEM and 52MW to the company’s own downstream projects.
Hanwha chairman and chief executive officer Seong-woo Nam said: “This quarter was one of the most significant milestones for the company.
“We are now more fully benefiting from the merger between Hanwha SolarOne and Hanwha Q Cells in February of this year, including the elimination of redundant costs as reflected in the improvement in our operating expenses as a percentage of revenues.
“The final quarter of 2015 looks equally bright with shipments expected to rise by 50% or more quarter-to-quarter.”
Image: solar PV production at Hanwha (Hanwha)
