Hyundai Motor India Q3 Results: Net Profit Slips 18.5% YoY at ₹1,160.7 Crore

Hyundai Motor India reported its Q3 numbers today. The net profit of the automaker declined by 18.5% at ₹1,160.7 crore in the December quarter.

While revenue from operations came at ₹16,648 crore, down 1.3% YoY, EBITDA stood at 12.88% in Q3 FY24.

Earnings per share slumped to ₹14.29 from ₹17.54 in the corresponding quarter a year earlier.

As per a press release, Hyundai sold 86,408 units of passenger vehicles during the December quarter.

The release said, “This includes 146,022 units in the domestic market with a strong contribution from the SUV segment. The company has achieved its highest-ever CNG penetration during the quarter, reaching an impressive 15%, which was 12% in Q3 of the previous year. During the quarter, the company demonstrated robust growth in rural penetration, reaching 21.2% compared to 19.7% in the same period last year. The export volume stood at 40,386 units.”

Unsoo Kim, Managing Director, said, “While the challenges persist in the overall market due to global factors, our business fundamentals remain strong, and we remain confident in our ability to leverage our strengths and actively explore potential opportunities to improve our volumes and profitability.”

Today shares of Hyundai Motor India ended at ₹1,627.00, down 1.02%.