Hyundai Motors Sees 19% Profit Dip in Q3 2024

Hyundai Motor Company reported a 19% decline in profits after tax for Q3 2024, amounting to Rs 1,161 crore. This is a decrease from Rs 1,425 crore in the same period last year. Revenue also saw a decline to Rs 16,648 crore. Shares dropped by 0.24% on BSE.

Hyundai Motor Company announced a notable 19% decline in its consolidated profit after tax for the third quarter of 2024. The profit stands at Rs 1,161 crore, contrasting sharply with the Rs 1,425 crore reported in the same period last fiscal year.

This downturn is accompanied by a drop in total revenue, which fell to Rs 16,648 crore from the Rs 16,875 crore registered during the previous year. The figures indicate challenges faced by the auto major in maintaining financial momentum.

In response to the financial report, Hyundai's shares on BSE experienced a slight dip of 0.24%, trading at Rs 1,639.55 per share, reflecting a cautious market reaction.

(With inputs from agencies.)