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
A helicopter is seen flying over the besieged town of Douma, Eastern Ghouta...

A helicopter is seen flying over the besieged town of Douma, Eastern Ghouta...

Transgender Shanavi Ponnusamy arrives at the chief minister's cell at...

Transgender Shanavi Ponnusamy arrives at the chief minister's cell at...

Lufthansa tests humanoid robot 'Josie Pepper' at airport...

Lufthansa tests humanoid robot 'Josie Pepper' at airport...

Chief of the Air Staff, Air Chief Marshal B.S. Dhanoa presents a memento to the...

Chief of the Air Staff, Air Chief Marshal B.S. Dhanoa presents a memento to the...

Alpine Skiing - Pyeongchang 2018 Winter Olympics - Women's Downhill Training...

Alpine Skiing - Pyeongchang 2018 Winter Olympics - Women's Downhill Training...

Canadian Prime Minister Justin Trudeau greets business leaders at the end of...

Canadian Prime Minister Justin Trudeau greets business leaders at the end of...

Greenpeace demonstrators in all-over bodysuits protest against pollution...

Greenpeace demonstrators in all-over bodysuits protest against pollution...

A Marathi mother-daughter duo during a procession to commemorate Shivaji Jayanti...

A Marathi mother-daughter duo during a procession to commemorate Shivaji Jayanti...

Prime Minister Narendra Modi greets the saints during the...

Prime Minister Narendra Modi greets the saints during the...

Raphael Manet checks the growth of radish seedlings as he works at the...

Raphael Manet checks the growth of radish seedlings as he works at the...

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.