Hyundai Motor Q3 net falls 24.2 pc on production disruptions, weak demand
Seoul, Oct 29
Hyundai Motor said on Thursday that its third-quarter net profit fell 24.2 per cent from a year earlier due to production disruptions and sluggish global demand.
Net profit for the July-September period came to 1.93 trillion won (US$1.4 billion), down from 2.54 trillion won a year earlier, the automaker said in a regulatory filing.
Operating profit rose 5.5 per cent on-year to 2.67 trillion won, while revenue fell 3.4 per cent to 45.11 trillion won, reports Yonhap news agency.
The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 2.12 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Hyundai Motor also lowered its annual sales target to 4 million vehicles from 4.16 million for this year and cut its investment plan to 16 trillion won from 17.8 trillion won.
Meanwhile, Hyundai Motor India Limited reported a 23.9 per cent year-on-year (YoY) decline in net profit for the July-September quarter of the current financial year (Q2 FY27), as margin pressures weighed on earnings despite a strong increase in revenue.
The automaker posted a net profit of Rs 1,196 crore for the second quarter ended September 30, compared with Rs 1,572 crore in the corresponding quarter of the previous financial year (Q2 FY26), according to its stock exchange filing.
Revenue from operations rose 18.5 per cent year-on-year to Rs 20,696 crore during the quarter, up from Rs 17,460 crore reported a year earlier.
At the operating level, EBITDA declined 18.7 per cent to Rs 1,974 crore from Rs 2,428 crore in the year-ago period. As a result, EBITDA margin contracted to 9.5 per cent from 13.9 per cent in the corresponding quarter last year.
— IANS
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