Hyundai India’s Q3 Profit Decline

Hyundai Motor India reported a 19% decrease in its third-quarter profit, with earnings dropping to ₹11.61 billion from ₹14.25 billion the previous year. This decline is attributed to a 2.4% reduction in total car sales, influenced by a 7.5% decrease in exports due to the Red Sea crisis affecting the Middle East market. Domestic sales saw a marginal decline of 0.1%, contrasting with an overall 4.5% rise in passenger vehicle sales in India. Additionally, higher discounts have led to a reduction in margins, decreasing to 11.3% from 12.9% the previous year.