Hyundai Motor India posted a 16% drop in net profit for the September quarter, hitting ₹1,375 crore, down from ₹1,628 crore during the same period last year. Revenue also saw an 8% dip, totaling ₹17,260 crore against the previous year’s ₹18,660 crore. The company’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) slipped by 10% to ₹2,205 crore, while margins shrank slightly by 30 basis points to 12.8%.
In its quarterly report, Hyundai noted it sold a total of 1,91,939 passenger vehicles from July to September. This included 1,49,638 units in the domestic market, a performance bolstered by strong demand in the SUV segment. Hyundai also expressed optimism for steady demand in the auto sector, anticipating a continued rise in the coming months.
Despite tough market conditions, Hyundai maintained profitability for H1 FY 2024-25, primarily due to proactive cost control efforts. Managing Director Unsoo Kim remarked, “Our upcoming CRETA EV launch is expected to be a game changer in the EV market.”
Following the earnings release, Hyundai Motor India’s stock dipped to its lowest point of the day, trading 2.5% lower at ₹1,777, now down 9% from its issue price of ₹1,960.
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