Hyundai Motor India reported a 19% decline in net profit to ₹1,161 crore for the third quarter ending December 31, 2024. This is down from ₹1,425 crore in the same period last year. The company’s revenue also fell slightly by 1.3% to ₹16,648 crore, compared to ₹16,875 crore previously.
Lower domestic sales and exports caused the profit decline. Despite strong SUV sales, overall passenger vehicle sales from April to December 2024 were 570,402 units, including 445,116 units in the domestic market and 125,286 units in exports.
Hyundai Motor’s shares on the Bombay Stock Exchange dipped by 1.19%, closing at ₹1,623.95. The market response reflects concerns over the company’s declining profitability and revenue.
Overall, Hyundai Motor’s financial performance faced significant challenges in the third quarter, with both net profit and revenue experiencing notable declines.
