Hyundai Reports Record Revenue Despite Declining Profits

Hyundai Motor India Limited (HMIL) reported a consolidated net profit of ₹1,196.16 crore for the quarter ended September. This represents a 24% decline compared with the ₹1,572.25 crore recorded during the corresponding quarter of the previous year. Despite the drop in profitability, the company’s revenue from operations increased significantly, rising from ₹17,460.82 crore to ₹20,696.05 crore during the quarter. According to the company, this was the first time its quarterly revenue had crossed the ₹20,000 crore mark, reflecting strong sales performance during the period.

Hyundai Motor India Managing Director and CEO Tarun Garg said the increase in material costs contributed to a rise in the company’s total expenses. Expenditure climbed from ₹15,566.06 crore in the year-ago quarter to ₹19,302.18 crore in the quarter under review. Garg attributed the record revenue performance to vehicle sales reaching an all-time high of 2,19,072 units during the September quarter. While higher sales helped the company achieve a new revenue milestone, increased costs weighed on its net profit.