New Delhi, Jan 28 (UNI) The country's second largest carmaker Hyundai Motor India on Tuesday reported 18.55% year-on-year decline in consolidated net profit to Rs 1,160.7 crore for October-December quarter (Q3) of the current financial year 2024-25 (FY25).

The car manufacturer had posted a profit of Rs 1,425.2 crore in the Q3 of the previous financial year 2023-24.

"The decline in margins (in Q3FY25) was mainly due to subdued demand & geo-political factors," Hyundai Motor India said.

Hyundai Motor India's revenue from operation during the December quarter of the current financial year fell marginally to Rs 16,323 crore from Rs 16,512 crore in the same period a year ago.

The company sold a total of 186,408 units of passenger vehicles during this quarter. This includes 146,022 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% which was 12% in Q3 of the previous year. During the quarter, the company has demonstrated robust growth in rural penetration reaching 21.2% compared to 19.7% in the same period last year. The export volume stood at 40,386 units," Hyundai said in a media release.

In its outlook going forward, Hyundai said that it is confident about its growth trajectory and is committed to drive long-term value for its stakeholders. The company further said that it has a positive outlook on growing EV penetration in India and is headed towards electrification with a holistic approach.

Commenting on the company’s results, Unsoo Kim, Managing Director, Hyundai Motor India said, "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.”

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