Hyundai Motor India Q2 Results: Topline miss but margins expand better than anticipated

Shares of Hyundai Motor India Ltd. are recovering from the day's low after the passenger vehicle manufacturer reported results for the September quarter on Thursday, October 30, that were better than expectations on most fronts.

Revenue for the quarter increased by 1.2% from last year to ₹17,461 crore. However, the topline was marginally below the CNBC-TV18 poll of ₹17,532 crore. Revenue growth during the quarter was muted as volumes were down 1% on a year-on-year basis.

Earnings Before Interest, Tax, Depreciation and Amortisation for the quarter increased by 10% year-on-year to ₹2,430 crore, marginally higher than the CNBC-TV18 poll of ₹2,380 crore.

EBITDA margin expanded better than anticipated to 13.9% from 12.8% last year. The CNBC-TV18 poll projection was for margins to be at 13.6%.

Net profit increased by 14% from the year-ago period to ₹1,572 crore, slightly higher than the CNBC-TV18 poll of ₹1,518 crore.

Sales strategy for the EV portfolio, demand outlook, and new product timelines are some key aspects that the street would want clarity from the management.

Shares of Hyundai Motor India are off the lows of the day, currently trading 1.4% higher at ₹2,390. . At ₹27,870 crore, Hyundai Motor India remains India's biggest IPO till date.