LG Energy Solution (KRX:373220) posted third-quarter operating profit of 601.3 billion won, jumping 34.1% from 448.3 billion won a year earlier, according to a Monday release.

Tax credits under the U.S. IRA's Advanced Manufacturing Production Credit totaled 365.5 billion won, while operating profit excluding the credits stood at 235.8 billion won.

The South Korean battery manufacturer's sales fell 17.1% year over year to 5.699 trillion won from 6.878 trillion won.

Shares of LG Energy Solution rose nearly 1% in recent trade.