Hyundai Motor India Sees 15.5% Drop in Q2 Profit

14 Nov 2024 CW Team

Hyundai Motor India posted a net profit of ?13.75 billion for the second quarter (Q2) of FY 2024-25, marking a 15.5% decline compared to ?16.28 billion in the same period last year. The company鈥檚 revenue from operations also fell by 7.5%, reaching ?172.60 billion, down from ?186.60 billion in Q2 FY24. Hyundai attributed the decline to weak market conditions and ongoing global geopolitical challenges.

In the first half (H1) of FY25, Hyundai sold 383,994 passenger vehicles, with 299,094 units sold domestically and 84,900 units exported. Revenue for H1 FY25 stood at ?346.04 billion, a slight drop of 1.92% compared to ?352.83 billion in H1 FY24. The company's profit after tax for H1 FY25 was ?28.65 billion, down from ?29.57 billion in the same period last year.

Despite the decline in profits and revenue, Hyundai improved its EBITDA margin to 13.14% in H1 FY25, up from 12.58% in the previous year, reflecting strong cost management strategies. Managing Director Unsoo Kim remains optimistic about Hyundai's future, with the upcoming launch of the CRETA EV expected to play a significant role in the growing Indian electric vehicle market.

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