Hyundai's Profits Skid Amidst Declining Sales

Hyundai Motor India witnessed an 8% decrease in its consolidated net profit, amounting to Rs 1,369 crore for the first quarter ending June 30. This decline, as reported on Wednesday, marks a setback from the Rs 1,490 crore recorded in the same period during the previous fiscal year.

The auto giant attributed the drop in profit largely to diminished sales, as reflected in its total income, which fell to Rs 16,628 crore from Rs 17,568 crore in the corresponding period last year, according to its regulatory filing.

Despite these numbers, Hyundai's shares showed resilience, trading at Rs 2,087.75 apiece on the BSE, albeit down by 0.62%.

(With inputs from agencies.)