Hyundai Motor's 2Q profit dips due to strong won

Tags: Companies
Hyundai Motor Co says its second-quarter profit fell 7 per cent as the appreciation of South Korean diluted its overseas earnings.

The South Korean automaker said today it earned $2.2 billion for the April-June period, compared with $2.4 billion a year earlier. The figure was in line with expectations.

Operating income dropped 13 per cent to $2.0 billion while sales declined 2 per cent to $22.13 billion.

It sold 2.5 million vehicles during the first six months of this year, up 4 per cent from the previous year.

Despite selling more cars, Hyundai said its bottom line was hit by the sharp rise of the South Korean won.

EDITORIAL OF THE DAY

  • There is no reason why SEBs be burdened with unviable power assets

    It is indeed unfair that state power agencies be burdened with unviable power assets of Tatas, Essar, Reliance, Adani and other major power generators

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Freedom Files : THE LAST SHEPHERD

The deep sense of foreboding was still to set in, ...

Rajgopal Nidamboor

Think outside the box

Creativity is the proviso of being resourceful. It connotes something ...

Kuruvilla Pandikattu

Tech is but a tool, digital era or not

Does our digital world make us make happier? We ...