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

  • Allow 100 per cent FDI in asset reconstruction companies

    The asset reconstruction business is 13 years old and still struggling like a toddler.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Rajgopal Nidamboor

From complexity to prudent adaptability

It is a travesty that a host of new, strikingly ...

Dharmendra Khandal

Creepy, you say? That’s merely ophidiphobia

Snakes are the earliest predators in the life of the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture