The decline in PBT and net profit were mainly due to weak market sentiments and geo-political factors.

EBITDA margin decreased to 12.78% in September 2024 quarter from 13.08% YoY posted in September 2023.

The company sold a total of 1,91,939 units of passenger vehicles during this quarter. This includes 1,49,639 units in the domestic market with a strong contribution from SUV segment. The export volume stood at 42,300 units.

On half-yearly basis, the car manufacturer’s net profit declined 3.13% to Rs 2,865.12 crore on 1.92% slide in revenue from operations to Rs 34,604.62 crore in H1 FY25 over H1 FY24.

In the mid to long term, the company expects a sustained demand momentum in the industry and will continue to focus on quality of growth by maintaining an optimum balance between volume, market share and margins.

Mr. Unsoo Kim, managing director said, “Despite the sluggish market conditions, we have successfully maintained profitability in H1 FY25, largely due to our proactive and continuous cost control measures. Further, we will be launching the CRETA EV for mass market in the coming months and we expect it will be a game changer in the EV market.”

Hyundai Motor India is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer (OEM) in the world based on passenger vehicle sales in CY23. Manufactures and sells reliable, feature-rich, and innovative four-wheeler passenger vehicles backed by the latest technology. Additionally, parts such as transmissions and engines are also manufactured.

Shares of Hyundai Motor India debuted on the bourses on 22 October 2024. The scrip was listed at Rs 1,931, representing a 1.48% discount to the issue price of Rs 1,960.