Hyundai Motors’ Q3 net profit sinks 19% y-o-y to ₹1,161 Crore

29 Jan 2025 , 10:10 AM

Hyundai Motor India Limited announced its results for the quarter ended December 2024. The company reported that its consolidated net profit for the quarter slipped as much as 19% y-o-y to ₹1,124 Crore as compared to ₹1,425 Crore in the previous corresponding period. 

The company’s consolidated revenue from operations dropped to ₹16,648 Crore against ₹16,875 Crore in Q3FY24. 

The auto major recorded sales of 186,408 passenger vehicles. This includes domestic sales of 146,022 units, backed by SUV sales.

The company also stated that it achieved its highest-ever penetration of CNG during the quarter under review, climbing to 15% from 12% in the previous quarter.

Rural penetration increased to 21.2% from 19.7% in the same period last year. Export volumes during the quarter totaled 40,386 units.

Despite recording a loss in the current quarter, Hyundai Motor India is confident about its growth charts and is dedicated to delivering long-term value for its stakeholders. The company maintains a positive outlook on increasing EV demand in India and is moving toward electrification with an extensive approach.

In addition to its aggressive capacity growth plans at the Pune factory, the company is working on broadening its product offering. Hyundai Motor India would also look into other eco-friendly powertrains.

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