The country’s second-largest passenger vehicle (PV) maker Hyundai Motor India (HMIL) on Tuesday reported a consolidated net profit of ₹1,160.73 crore for Q3FY25, a year-on-year (y-o-y) decline of 18.55 per cent compared with ₹1,425.22 crore in the same period last financial year.
Its consolidated total revenue also declined 1.34 per cent to ₹16,647.99 crore in the December quarter (₹16,874.7 crore). The decline in margins was mainly due to subdued demand and geo-political factors, the company said.
This is the first time the company has declared its results, after it launched its IPO in October 2024.
The company sold a total of 1,86,408 units of PVs during this quarter, HMIL said adding that this includes 1,46,022 units in the domestic market with a strong contribution from SUV segment.
The company has achieved its highest ever CNG penetration during the quarter, reaching an impressive 15 per cent which was 12 per cent in Q3 of the previous year. During the quarter, the company has demonstrated robust growth in rural penetration reaching 21.2 per cent compared to 19.7 per cent in the same period last year. The export volume stood at 40,386 units, it added.
“While the challenges persist in the overall market due to global factors, our business fundamentals remain strong, and we remain confident in our ability to leverage our strengths and actively explore potential opportunities to improve our volumes and profitability,” Unsoo Kim, Managing Director, HMIL, said.
Long-term value
HMIL is confident about its growth trajectory and is committed to drive long-term value for its stakeholders. The company has a positive outlook on growing EV penetration in India and is headed towards electrification with a holistic approach, the company said.
The company added that the newly launched Creta Electric will drive phenomenal success, build strong momentum and will be a game-changer in the EV landscape. The company is also building a strong EV ecosystem in India with localisation and charging infrastructured. Along with three more EVs planned in due time, the company is expected to greatly contribute to India’s EV growth story.