​​ ​
  1. Hyundai Motor Q2 net profit slips 2.6 pct in 10th straight quarterly drop

Hyundai Motor Q2 net profit slips 2.6 pct in 10th straight quarterly drop

South Korean automaker Hyundai Motor said on Tuesday its second-quarter net profit fell 3 percent, its 10th straight quarterly drop...

By: | Seoul | Published: July 26, 2016 11:39 AM
South Korean automaker Hyundai Motor said on Tuesday its second-quarter net profit fell 3 percent, its 10th straight quarterly drop. (Reuters) South Korean automaker Hyundai Motor said on Tuesday its second-quarter net profit fell 3 percent, its 10th straight quarterly drop. (Reuters)

South Korean automaker Hyundai Motor said on Tuesday its second-quarter net profit fell 3 percent, its 10th straight quarterly drop, as it soaked up stiff competition and shrinking demand for its mainstay sedans in the United States and at home.

Hyundai, the world’s fifth-biggest automaker together with affiliate Kia Motors, said April-June net profit slipped to 1.66 trillion won ($1.46 billion) from 1.70 trillion won a year earlier. That was just below a consensus forecast of 1.67 trillion won from a Reuters’ poll of 19 analysts.

The automaker said revenue rose 8 percent from the same period a year ago to 24.68 trillion won, while operating profit inched up 0.6 percent to 1.76 trillion won during the period.
($1 = 1,136.1000 won)

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top