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

  • But for market intervention, the govt has no business to be in business

    Selling equity in government owned companies has never been a priority for the Narendra Modi: the government has thus far not professed aggressive equ

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust:The mother of all battles

Gassed out after the interminable interplay of the Yadavs in ...

Rajgopal Nidamboor

Of life’s essentiality and synchrony

It is no big deal to think of psychology as ...

Anil Dharker

No women, no Cry

EDM, as you would know if you are young, (and ...