Hyundai Motor's Q4 net profit jumps 212%, missing expectations

Representative Image. Credit: Reuters Photo

South Korea's Hyundai Motor Co on Thursday reported a 212 per cent increase in fourth-quarter profit on strong demand for its high-margin sport-utility vehicles and a weak won.

Hyundai Motor reported a net profit of 1.7 trillion won ($1.38 billion) for the October-December period versus a profit of 547 billion won a year earlier, when the automaker booked some one-off costs.

That compared with a Refinitiv SmartEstimate for fourth-quarter profit at 2.5 trillion won drawn from 18 analysts.

($1 = 1,230.8600 won)

Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks