Press Esc to close

Hyundai Motor Q3 profit up 13 percent, meets forecasts

SEOUL, Oct 25, 2012, (Reuters) - 12:02 IST
South Korea's Hyundai Motor Co reported July-September net profit of 2.17 trillion won, an increase of 13 percent and in line with market forecasts, with growth held back by labour strikes in South Korea even as overseas sales rose.

A Reuters poll of 13 analysts had predicted on average a net profit of 2.13 trillion won for Hyundai, which with affiliate Kia Motors is the world's fifth-biggest car maker.

Net profit in the year-ago period was 1.92 trillion won, while Hyundai earned 2.55 trillion won in the second quarter.

The industrial action in South Korea in July and August was Hyundai's costliest ever - with lost production of more than 82,000 cars worth $1.5 billion. Hyundai has almost half its global production in South Korea.

Shares in Hyundai Motor last traded more than 2.5 percent higher after the results on Thursday.

The stock slumped more than 13 percent this month to Wednesday's close, while the benchmark index lost 4 percent. Over the same period, major Japanese rivals Honda Motor Co Ltd, Nissan Motor Co Ltd and Toyota Motor Corp gained around 7 percent, 4 percent and 2 percent respectively.

Go to Top

More from this section
Most trending stories
Photo Gallery
Hundreds of vehicles stranded at Jammu-Srinagar national highway as it remained closed...

Hundreds of vehicles stranded at Jammu-Srinagar national highway as it remained closed...

Prime Minister Narendra Modi receiving a memento from FICCI president Pankaj Patel at the 90th...

Prime Minister Narendra Modi receiving a memento from FICCI president Pankaj Patel at the 90th...

Tourists enjoy the weather after a fresh snowfall at Mahasu peak in Kufri near Shimla on Wednesday..

Tourists enjoy the weather after a fresh snowfall at Mahasu peak in Kufri near Shimla on Wednesday..

Prince William, Duke of Cambridge, left, and Prince Harry on the red carpet as they attend...

Prince William, Duke of Cambridge, left, and Prince Harry on the red carpet as they attend...

India's captain Rohit Sharma celebrates his double-century during the second ODI cricket match...

India's captain Rohit Sharma celebrates his double-century during the second ODI cricket match...

A leopard after it fell into a well at Bamungaon in Guwahati on Wednesday....

A leopard after it fell into a well at Bamungaon in Guwahati on Wednesday....

Prime Minister Narendra Modi, former Prime Minister Manmohan Singh, senior BJP leader LK Advani...

Prime Minister Narendra Modi, former Prime Minister Manmohan Singh, senior BJP leader LK Advani...

India's Prime Minister Narendra Modi (C) pays homage to the victims of the December 2001 parliament.

India's Prime Minister Narendra Modi (C) pays homage to the victims of the December 2001 parliament.

Bollywood actress Soha Ali Khan with mother Sharmila Tagore and sister Saba Ali Khan at the launch..

Bollywood actress Soha Ali Khan with mother Sharmila Tagore and sister Saba Ali Khan at the launch..

Sunset in Bengaluru on Wednesday...

Sunset in Bengaluru on Wednesday...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.