South Korean Automaker Hyundai's Q3 Profit More Than Doubles; Electrified Model Sales Jump 33.3%
Portfolio Pulse from Shivani Kumaresan
Hyundai Motor Company reported a 8.7% YoY revenue growth in Q3 FY23, with an operating profit of KRW 3.82 trillion, a 146.3% YoY increase. Net profit also increased by 134% to KRW 3.3 trillion. Sales of electrified models jumped 33.3% to about 169,000 units. The company expects sales momentum to continue due to improved production status, stronger demand for Hyundai, Genesis-branded models, and lower inventory levels.
October 26, 2023 | 12:26 pm
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Hyundai's Q3 FY23 results show significant growth in revenue and profit, with a notable increase in sales of electrified models. The company's positive outlook may continue to drive the stock price.
Hyundai's strong Q3 FY23 results, with significant growth in revenue and profit, and a notable increase in sales of electrified models, are positive indicators for the company's performance. This, coupled with the company's positive outlook, could drive investor interest and potentially increase the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100