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Hyundai Motor Q1 net profit dips 15 percent; meets forecast

Source : REUTERS
Last Updated: Thu, Apr 25, 2013 05:46 hrs
A Hyundai Motor logo is seen on the wheel of an Avante car displayed for customers at the automaker's dealership in Seoul

South Korea's Hyundai Motor Co posted a 15 percent fall in its quarterly net profit, broadly in line with forecasts, as it was hamstrung by production stoppages and unfavourable currency moves.

Hyundai Motor, which combined with its affiliate Kia Motors Corp is the world's fifth-biggest automaker, on Thursday reported a 2.1 trillion won net profit for January-March, compared with a consensus forecast of 2 trillion won from Thomson Reuters I/B/E/S.

Hyundai posted an operating profit of 1.9 trillion won on sales of 21.4 trillion won, giving it an operating margin of 8.7 percent, compared with 10.4 percent a year earlier.


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