Shares of Hyundai Motors India Ltd (HMIL) were trading in the red and 5% lower on Wednesday, 13 November, after the company announced its quarterly earnings for July-September. 

The company’s net profit for the quarter under review declined by 15.5% year-on-year (YoY) to Rs  1,375 crore compared to Rs 1,628 crore reported in the same quarter of the previous fiscal year.  The decline in net profit was attributed to lower domestic sales, exports, and geopolitical factors. 

The revenue from operations of the company stood at Rs 17,260 crore, making a 7.5% YoY decline for the quarter under review compared to Rs 18,660 crore in the corresponding quarter of the previous year.

On the operating front, the earnings before interest, tax, depreciation, and amortisation (EBITDA) margins contracted by 30 basis points to 12.78% in Q2FY25 against 13.08% recorded in Q2FY24. 

Unsoo Kim, Managing Director of HMIL, said, “We are also gearing up to launch the Creta EV for the mass market in the coming months, which we believe will be a game changer in the EV space.”

The total passenger vehicle sales of the company stood at 1,91,939 units. 

At 3:30 pm, the shares of Hyundai Motors India closed 3.27% lower at Rs 1,745 on NSE.

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