Hyundai Motor India Revenue Grows 8% YoY, Led by SUV Momentum and Exports

Hyundai Motor India Ltd today reported healthy growth in key earnings metrics for the December quarter, as strong SUV demand and solid growth in exports helped the company offset the impact of muted domestic volumes.

For Q3 FY26, the Indian arm of the Korean automaker posted consolidated revenue of around Rs 17,973 crore, representing an approximately 8% year-on-year increase, according to an exchange filing. Domestic sales accounted for 74% of the quarter’s revenue, slightly down from 77.8% in Q3 FY25, while exports contributed 26%, up from 22.2% a year ago.

The company reported a consolidated net profit of ₹1,234.4 crore, up 6.3% year-on-year, and EBITDA (earnings before interest, tax, depreciation and amortisation) of ₹2,428.9 crore, marking a 7.6% rise from the year-ago quarter. However, EBITDA margins slipped slightly by about 10 basis points to 11.2%, reflecting cost headwinds.

Despite top-line growth, Hyundai faced pressure from rising expenses in the quarter. Raw material costs climbed nearly 15%, while employee benefit expenses rose more than 15%, partly due to the impact of India’s updated labour codes and other inflationary factors.

Commodity price inflation, coupled with costs associated with capacity stabilisation and the ongoing commissioning of new facilities such as the Pune plant, also contributed to the pressure on operating costs. While SUVs and a richer product mix supported average selling prices, these benefits were partly offset by higher input costs and overheads.

SUVs remained the mainstay of Hyundai’s sales mix in the quarter, accounting for about 70% of domestic volumes. Models such as Creta, Venue and other sport-utility offerings continued to resonate with buyers, helping the company maintain share in a highly competitive SUV segment. This high SUV mix also contributed to improved realisations and helped offset softer demand in segments like hatchbacks and sedans.

The automaker’s total sales in Q3 came in at 195,436 units, up from 186,408 units in the year-ago period. Of these, 103,004 were SUVs, while hatchbacks and sedans accounted for 25,134 and 18,410 units, respectively.

Exports formed a substantial portion of Hyundai’s Indian business in Q3, which helped smooth cyclical weakness in some domestic pockets. The company’s exports rose 21% year-on-year to 48,888 units in the December quarter, while domestic sales were flat at 146,548 units.

The quarter’s sales performance was underpinned by a broader recovery in consumer demand across segments, buoyed by the positive effects of GST 2.0 rate cuts and festive spending in late 2025.