Hyundai Motor India Ltd (HMIL) reported a drop in its consolidated third quarter profit for FY2024-25, as rise in operating costs and lower revenues impacted performance.
The automobile manufacturer’s consolidated profit after tax declined to ₹11,607.34 million in the December quarter, down 15.6% from ₹13,754.69 million in the September quarter and 18.6% from ₹14,252.21 million in the year-ago period.
Consolidated revenue from operations declined to ₹166,479.93 million in the third quarter compared to ₹172,603.84 million in the previous quarter, showing a decline of 3.5%. Compared to the same quarter last year (₹168,747.09 million), the decline was 1.3%.
The Group faced an increase in operating costs, particularly employee benefit expenses, which increased to ₹6,071.19 million from ₹5,492.96 million in the previous quarter. Material costs stood at ₹115,437.39 million, down significantly from ₹132,064.99 million in the September quarter.
Other expenses remained relatively stable at ₹19,967.05 million compared to ₹19,886.48 million in the previous quarter, while finance costs increased marginally 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 has maintained its strong market position, these results come after its successful initial public offering (IPO) and listing on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in October 2024.
