Hyundai Motor fourth-quarter profit rises 57% on demand for SUVs, Genesis
Hyundai, which together with affiliate Kia Corp is among the world's top 10 automakers, reported a net profit of 1.3 trillion won
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SEOUL (Reuters) - South Korea's Hyundai Motor Co reported on Tuesday a 57% rise in fourth-quarter profit, slightly below analyst estimates, backed by demand for high-margin sports-utility vehicles and its premium Genesis cars.
Hyundai, which together with affiliate Kia Corp is among the world's top 10 automakers, reported a net profit of 1.3 trillion won ($1.18 billion) for October-December, versus 804 billion won a year earlier.
That compared with the 1.5 trillion won average of 16 analyst estimates compiled by Refinitiv.
($1 = 1,104.7400 won)
(Reporting by Heekyong Yang and Joyce Lee; Editing by Himani Sarkar)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Jan 26 2021 | 10:48 AM IST