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The Korea Herald
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THE INVESTOR
March 28, 2024

Automobiles

Hyundai Mobis’ net profit down 32% in Q3

  • PUBLISHED :October 30, 2017 - 17:06
  • UPDATED :October 30, 2017 - 17:06
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[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)

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