New Delhi, Jul 30 (PTI) Hyundai Motor India Ltd on Thursday reported a 35 per cent decline in consolidated profit after tax to Rs 888.62 crore in the first quarter ended June 30, impacted by lower revenue and higher expenses The company had posted a consolidated Profit After Tax (PAT) of Rs 1,369.23 crore in the corresponding period of the previous fiscal year, Hyundai Motor India Ltd (HMIL) said in a regulatory filing.
Consolidated revenue from operations stood at Rs 16,334.63 crore as against Rs 16,412.88 crore in the year-ago period, it added.
Total expenses were higher at Rs 15,407.35 crore as compared to Rs 14,780.47 crore in the corresponding period of the previous fiscal year, HMIL said.
Commenting on the performance, HMIL MD & CEO Tarun
Garg, said, “Q1 FY27 was a challenging quarter affected by multiple headwinds impacting volumes and profitability.” With 100 per cent normalisation of production, coupled with healthy demand environment and upcoming product pipeline, recovery is likely to gain pace from Q2 onwards across both domestic and export businesses, he added.
Looking ahead, Garg said, “We remain committed to achieving our stated guidance of 8-10 per cent (YoY) volume growth for both domestic and exports as well as 11-14 per cent EBITDA margin in FY27.” PTI RKL DR DR
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