Hyundai India Q3 Results: Profit Drops 19%, Revenue Dips Amid Muted Sales
The Ebitda margin narrowed 160 basis points to 11.2% in the December quarter.
Hyundai Motor India Ltd. saw its revenue erode and profit evaporate in the third quarter of the current fiscal amid muted sales and higher discounts.
Standalone net profit of India's second largest carmaker fell 19% year-on-year to Rs 1,124 crore in the three months ended Dec. 31, 2024, even as revenue dipped 2.1% to Rs 16,242 crore, according to an exchange filing on Tuesday. Analysts polled by Bloomberg had estimated the top line at Rs 17,089 crore and the bottom line at Rs 1,328 crore.
Hyundai India Q3 Results Highlights (YoY)
Revenue down 2.1% to Rs 16,242 crore (Estimate: Rs 17,089 crore).
Ebitda down 14% to Rs 1,825 crore (Estimate: Rs 2,144 crore).
Ebitda margin narrows 160 basis points to 11.2% (Estimate: 12.50%).
Net profit down 19% to Rs 1,124 crore (Estimate: Rs 1,328 crore).
According to the company, the decline in margin was mainly due to subdued demand and geopolitical factors.
October–December is the most lucrative quarter for India's automakers as it includes a month-long festive season. Almost a third of their annual sales are clocked in this period.
Hyundai India sold a total of 1.46 lakh units during this time and exported 40,386 units more. About 15% of the company's domestic sales are of cars equipped with a CNG powertrain. Its rural penetration rose to 21.2% as against 19.7% in the year-ago period.
"While the challenges persist in the overall market due to global factors, our business fundamentals remain strong," Unsoo Kim, managing director at Hyundai India, said in a statement. "We remain confident in our ability to leverage our strengths and actively explore potential opportunities to improve our volumes and profitability.”
