Hyundai Motor Q3 net profit drops 3%, misses estimates

Net profit dropped to 1.27 trillion won for the July-September period

South Korea's Hyundai Motor Company posted on Monday a 3 per cent fall in third-quarter profit due to a 1.36 trillion won ($906 million) provision to pay for costs related to engine quality issues.

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Net profit dropped to 1.27 trillion won ($883.39 million) for the July-September period, compared with 1.31 trillion won a year earlier and a Refinitiv SmartEstimate of 2.4 trillion won drawn from 17 analysts.