[THE INVESTOR] Hyundai Mobis said on Oct, 30day its third-quarter net profit plunged 32 percent on lower demand from China.
For the three months that ended on Sept. 30, net profit declined to 482.2 billion won (US$429 million) from 705.8 billion won a year earlier, the company said in a statement.
Hyundai Mobis’ operating profit also fell 25 percent to 544.4 billion won in the third quarter from 721.7 billion won a year ago.
Sales were down 0.1 percent to 8.773 trillion won from 8.778 trillion won during the same period, the statement said.
In the January-September period, net profit declined 27 percent to 1.726 trillion won from 2.35 trillion won a year earlier.
Operating profit fell 23 percent year-on-year to 1.706 trillion won on sales of 26.323 trillion won, a 5.9-percent on-year drop, it said.
By Alex Lee and newswires (
alexlee@heraldcorp.com)