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Hyundai India profit slips 19%
Business Standard|January 29, 2025
India's second-largest carmaker, Hyundai Motor India (HMIL), posted a 19 per cent decline in consolidated net profit for the October-December quarter (Q3) of 2024-25 (FY25), at ₹1,161 crore, compared to ₹1,425 crore during the same period in 2023-24 (FY24).
- SHINE JACOB
Hyundai India profit slips 19%

The drop in net profit was primarily due to subdued domestic demand and the impact of geopolitical factors in export markets.

Although volumes declined during the quarter, the company expects demand to pick up and projects low single-digit growth in the fourth quarter.

Tarun Garg, whole-time director and chief operating officer, said the company is aiming for a 20 per cent market share in the electric vehicle (EV) sector in the mid-to-long term, with the newly launched Creta Electric expected to play a pivotal role.

The company is also focusing on building an EV ecosystem while exploring alternative technologies such as hydrogen, hybrid, and flexible fuel.

In Q3FY25, the company's revenue declined marginally by 1 per cent to ₹16,648 crore, compared to ₹16,875 crore during the same period in FY24.

This story is from the January 29, 2025 edition of Business Standard.

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This story is from the January 29, 2025 edition of Business Standard.

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