Hyundai Motor Q3 Results | Net profit falls 19% to ₹1,161 crore, revenue at ₹16,648 crore

Auto major Hyundai Motor India Ltd on Tuesday (January 28) reported a 19% year-on-year (YoY) decline in net profit at ₹1,124 crore for the third quarter that ended December 31, 2024.

In the corresponding quarter of the previous fiscal, Hyundai Motor India posted a net profit of ₹1,425 crore, the company said in a regulatory filing. The company's revenue from operations declined to ₹16,648 crore as against ₹16,875 crore in the corresponding period of the preceding fiscal.

Hyundai Motor sold 186,408 passenger vehicles in Q3 FY2024-25, including 146,022 units in the domestic market, driven by strong SUV sales. The company achieved its highest-ever CNG penetration during the quarter, reaching 15%, up from 12% in Q3 of the previous year. Rural penetration also grew to 21.2%, compared to 19.7% in the same period last year. Export volumes for the quarter stood at 40,386 units.

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Hyundai Motor sold 570,402 passenger vehicles during the nine months from April to December 2024, including 445,116 units in the domestic market, driven by strong SUV segment sales, and 125,286 units in exports.

Outlook

Hyundai Motor India is confident about its growth trajectory and is committed to driving long-term value for its stakeholders. The company has a positive outlook on growing EV penetration in India and is headed towards electrification with a holistic approach.

The company believes that the newly launched CRETA Electric will drive phenomenal success, build strong momentum and will be a game-changer in the EV landscape. The company is also building a strong EV ecosystem in India like localization, charging infrastructure, etc. and along with 3 more EVs planned in due time, the company is expected to greatly contribute to India’s EV growth story.

Aligned with the aggressive capacity expansion plans from the Pune plant, the company will also be focusing on diversifying its product portfolio. The company will also look to explore opportunities in alternate eco-friendly powertrains. With access to HMC’s global powertrain technologies like hybrids, hydrogen, flex-fuel etc., the company believes it is well placed to adapt to any change in demand dynamics and regulatory environment.

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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."

Shares of Hyundai Motor India Ltd ended at ₹1,623.95, down by ₹19.60 or 1.19% on the BSE.