Hyundai Motor India Q2 profit falls 24% despite record sales

Earnings before interest, tax, depreciation and amortisation (EBITDA), excluding other income, dropped 19% to Rs 1974.5 crore. EBITDA margins fell to 9.5% last quarter from 13.9% in the year-ago period.The company said commodity headwinds weighed on profitability in the quarter under consideration, however operating leverage, healthy mix and cost reduction initiatives helped improve EBITDA margin sequentially.Tarun Garg, Managing Director & Chief Executive Officer, Hyundai Motor India, said, “Q2 FY27 was a milestone quarter for HMIL, marked by record volumes and quarterly revenue exceeding Rs 20,000 crore for the first time since our inception.

However, elevated commodity costs weighed on the quarter’s profitability.”Live EventsThe company reported its highest-ever quarterly total sales of 219,072 units in Q2FY27. Domestic sales went up by 19%, complemented by all-time high rural penetration of 26.6% and a record CNG contribution of 19.1% in any quarter.Exports grew by 4% YoY and sequentially by 38%, despite geo-political challenges.“Looking ahead, we see H2 as a period of accelerated momentum for us.

Launch of Bayon marks the onset of our golden product cycle. We are also fully geared up for the launch of dedicated mass market EV in Q4 FY27. While macro-economic uncertainties and cost pressures persist, we remain focused on strengthening our leadership across key segments, delivering sustainable growth and profitability”, Garg added.Shares of Hyundai Motor India closed at Rs 1875 apiece, up by 1.13% on BSE.(You can now subscribe to our ETMarkets WhatsApp channel)