Hyundai Motor India Beats Q4 Profit Estimates on SUV Demand

Hyundai Motor India reported a smaller-than-expected decline in fourth-quarter profit on Friday, supported by robust domestic and export demand for its higher-margin SUVs. The automaker posted a consolidated profit of 12.56 billion rupees for the quarter ended March 31, compared with 16.14 billion rupees a year earlier.

Analysts had expected profit to fall further to around 12.37 billion rupees, according to LSEG data. India’s passenger vehicle market has seen stronger sales momentum since the government reduced taxes last September, improving showroom traffic and helping automakers maintain pricing power despite rising costs.

Hyundai’s total vehicle sales rose 8.7% during the quarter, while exports increased 9.4%, driven mainly by strong demand for the Creta SUV. The growth helped the company counter higher commodity prices linked to the ongoing Iran war and defend its market position against rivals such as Mahindra & Mahindra. Quarterly revenue increased 5.4% to 189.16 billion rupees.

Pic courtesy: google/ images are subject to copyright