Hyundai India's Q3 profit drops 16% as operating costs surge
The automobile manufacturer's consolidated profit after tax fell to ₹11.61 billion in the December quarter, 18.6% lower than the year-ago period.
Hyundai Motor India Limited (HMIL) reported a decline in its consolidated third-quarter profit for FY2024-25, as higher operational costs and lower revenues impacted performance. The automobile manufacturer's consolidated profit after tax fell to ₹11,607.34 million in the December quarter, down 15.6% from ₹13,754.69 million in the September quarter and 18.6% lower than ₹14,252.21 million in the year-ago period.
Consolidated revenue from operations decreased to ₹166,479.93 million in Q3, compared to ₹172,603.84 million in the previous quarter, representing a 3.5% decline. When compared to the same quarter last year (₹168,747.09 million), the decline was 1.3%.
The group faced increased operational costs, particularly in employee benefits expenses, which rose to ₹6,071.19 million from ₹5,492.96 million in the previous quarter. Material costs stood at ₹115,437.39 million, notably lower than the September quarter's ₹132,064.99 million.
Other expenses remained relatively stable at ₹19,967.05 million compared to ₹19,886.48 million in the previous quarter, while finance costs showed a marginal increase to ₹298.91 million from ₹291.72 million.
The group's consolidated earnings per share declined to ₹14.29 in the December quarter from ₹16.93 in the September quarter and ₹17.54 in the same quarter last year.
Despite the quarterly decline, Hyundai Motor India maintains a robust market position, with these results following its successful Initial Public Offering (IPO) and listing on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in October 2024.
RELATED ARTICLES
M&M to review global farm subsidiaries, unveil revamped plan in Q4 FY25
M&M's farm equipment business in Japan is experiencing a trend similar to the US, with the company's market share remain...
Tata Motors Launches Advanced Vehicle Recycling Facility in Northeast India
Tata Motors' seventh registered vehicle scrapping facility has opened in Guwahati with a 15,000-vehicle annual capacity,...
M&M Warns About Rising Raw Material Costs, Falling Rupee
Prices of non-steel raw materials have started creeping up, posing a challenge for the company.