Business News | Hyundai India Revenue Down 7.5 Pc in Q2FY25, PBT Down to Rs 18,498.46 Million from Rs 22,320.36 Million (QoQ)
Get latest articles and stories on Business at LatestLY. Despite a challenging market, the company achieved a growth in EBITDA margin to 13.14 per cent from 12.58 per cent year-over-year, driven by strategic cost management and robust domestic demand in its SUV segment.
New Delhi [India], November 12 (ANI): In its first results post its IPO, Hyundai Motor India has reported a consolidated revenue from operations of Rs 3,46,046.18 million for the first half of FY 2024-25 (April to September 2024).
This represents a decline of 1.92 per cent compared to Rs 3,52,832.02 million in the same period last year.The EBITDA margin growth of the company stood at 13.14 per cent from 12.58 per cent year-over-year. The company says it is driven by strategic cost management and robust domestic demand in its SUV segment.
Also Read | Canada: Brampton Triveni Temple Cancels Consular Event Amid 'High, Imminent' Threat of Violent Protests.
The company sold a total of 3,83,994 passenger vehicles during H1, with 2,99,094 units sold domestically and 84,900 units exported. Domestic sales were buoyed by high demand for SUVs.
Profit before tax (PBT) for the first half stood at INR 38,532.29 million, down from Rs 40,205.15 million in H1 FY2023-24, while net profit (PAT) reached Rs 28,651.21 million, down from Rs 29,576.50 million.
In Q2 FY 2024-25 (July to September 2024), revenue was Rs 1,72,603.84 million, a 7.50 per cent decline from Rs 1,86,596.91 million in the same quarter last year.
The company sold 1,91,939 passenger vehicles during the quarter, with domestic sales reaching 1,49,639 units and exports totalling 42,300 units. EBITDA margin decreased to 12.78 per cent from 13.08 per cent in Q2 FY2023-24, and PBT was Rs 18,498.46 million compared to Rs 22,320.36 million in Q2 FY2023-24. Net profit for the quarter was Rs 13,754.69 million.
Unsoo Kim, Managing Director, Hyundai Motor India, said, "Despite the sluggish market conditions, we have successfully maintained profitability in H1 FY 2024-25, largely due to our proactive and continuous cost control measures."
He added, "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." (ANI)
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)