The company had posted net profit of Rs 1,375.5 crore in the corresponding period of the last financial year.
Revenues in the period under review went up by 1.2% to Rs 17,460.8 crore. Earnings before interest, fax, depreciation and amortisation (EBITDA) grew 10.1% to Rs 2,428.9 crore and EBITDA margins by 113 basis points to 13.9% driven by a favourable product mix and cost optimisation efforts.
Unsoo Kim, Managing Director at Hyundai Motor India said, “We delivered a strong financial performance for the quarter across key metrics with evident growth in revenue and profitability. The strong EBITDA margins at nearly 14% is a further testament of our “Quality of Growth” strategy, complemented by robust exports and consistent cost optimisation efforts.”
Hyundai Motor said it delivered a robust performance last quarter supported by festive demand, policy tailwinds, and strong traction across SUV and rural segments. Domestic volumes rose 5.5% quarter-on-quarter, driven by GST 2.0 reforms and a buoyant festive season. The quarter also marked Hyundai’s highest-ever domestic SUV contribution at 71.1%. The share of rural markets in total sales stood at 24% in the quarter under review.
Kim said, “Following the implementation of GST 2.0 reforms, the Indian automobile industry witnessed a strong wave of demand momentum. This led to positive shift in consumer sentiments coupled with improved affordability, which translated into remarkable surge in sales in last week of the quarter, partially offsetting the muted demand amid postponement of buying by the customers (ahead of implementation of new rates).”Exports continued its robust momentum during the quarter with nearly 22% growth on year-on-year basis. Kim said the company is witnessing strong demand traction in key export markets, with Middle East & Africa recording a volume growth of 35% and Mexico recording a growth of 11%. “Going forward, we expect to leverage our new plant capacity and new product launches to sustain this growth momentum”, he informed.Going ahead, Kim said the company aims “to keep pace with the industry’s growth momentum for the residual part of the year”. Meanwhile, Hyundai’s strong export performance is set to surpass targets for FY26, he said.
Shares of Hyundai Motor India closed at Rs 2,413.45, up by 2.40% on the BSE.
Canara Bank Q2 Earnings
Riding on treasury earnings, Canara Bank reported a 19% rise in second quarter net profit at Rs 4774 crore as compared with Rs 4014 crore in the year ago period, while its net interest income was about 2% lower year-on-year at Rs 9141 crore.
Canara’s net interest margin for the quarter stood lower at 2.5% as compared with 2.86% in the year-ago period
The bank’s treasury income stood 79% higher for the quarter at Rs 1583 crore, helping non-interest income rise 42% at Rs 7054 crore. Operating profit was 12% higher at Rs 8588 crore. Its gross non-performing assets ratio improved 138 basis points to 2.35% of the gross advances of Rs 11.5 lakh crore, which grew 13.7% year-on-year.