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.
28 Jan 2025 | 1388 Views | By Autocar Pro News Desk
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% ...
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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.