Hynix Semiconductor Inc., second-largest computer-memory chipmaker in the world, reported Friday its first quarterly profit after seven consecutive quarters of losses. 

The South Korean company said it pocketed net profit of 246 billion won (equivalent to $207.1 million) during the three months ended September 30.

Radical cost-cutting measures along with uplifting demand for PCs and servers helped the company.

Hynix Semiconductor reported consolidated sales of 2.12 trillion won as compared with analysts’ projection of 2.01 trillion won.

Operating profit soared to 209.3 billion won against an operating loss of 464.5 billion won last year.

Shipments of DRAM chips jumped 12 per cent in the 3Q from the previous one, while sales of NAND chips soared 5 per cent.

Analyst Lee Sun-tae of Meritz Securities said, “Strong earnings will likely be sustained in the fourth quarter.”

Hynix shares, which have almost trebled so far this year, gained 1.33 per cent.