Seoul: Hyundai Motor Co. on Thursday announced a 22.1 percent decrease in its second-quarter net profit, amounting to 3.25 trillion won (US$2.4 billion) compared to the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the quarter was 3.6 trillion won, down from 4.27 trillion won a year earlier. Despite the decline in profit, sales showed a 7.3 percent increase, reaching 48.28 trillion won.
The reported earnings exceeded market expectations, as analysts, surveyed by Yonhap Infomax, the financial data firm of Yonhap News Agency, had anticipated a net profit of 3.2 trillion won.