Domestic sales accounted for 77.8% of the revenue and the remaining 22.2% was from exports.
Total sales volume for the third quarter was 186,408 vehicles, down 2.4% YoY. Domestic sales and exports were 146,022 units (down 0.9% YoY) and 40,386 units (down 7.5% YoY), respectively.
The company stated continued weak demand, despite good festive sales. Further, the exports were impacted by geo-political issues.
The domestic sales recorded a strong contribution from SUV segment. The company has achieved its highest ever CNG penetration during the quarter, reaching 15% which was 12% in Q3 of the previous year. During the quarter, the company’s rural penetration increased to 21.2% from 19.7% in the same period last year.
EBITDA fell 13.7% to Rs 1,875.5 crore in the December’24 quarter from 2,173.5 crore registered in the same period last year. EBITDA margin for Q3 FY25 was 11.3%, down 160 basis points YoY.
Profit before tax in Q3 FY25 stood at Rs 1,562.73 crore, down by 20.3% from Rs 1,959.74 crore in Q3 FY24.
Unsoo Kim, managing director, said: "While the challenges persist in the overall market due to global factors, our business fundamentals remain strong, and we remain confident in our ability to leverage our strengths and actively explore potential opportunities to improve our volumes and profitability.”
In its outlook, Hyundai Motor India stated that it has positive outlook on growing EV penetration in India and is headed towards electrification with a holistic approach. The company is also building a strong EV ecosystem in India like localization, charging infrastructure, etc. and along with 3 more EVs planned in due time.
Aligned with the aggressive capacity expansion plans from Pune plant, the company will also be focusing on diversifying their product portfolio. The company will also look to explore opportunities in alternate eco-friendly powertrains. With access to HMC’s global powertrain technologies like hybrids, hydrogen, flex fuel etc., the company believes it is well placed to adapt to any change in demand dynamics and regulatory environment.
Hyundai Motor India is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer (OEM) in the world based on passenger vehicle sales in CY23. Manufactures and sells reliable, feature-rich, and innovative four-wheeler passenger vehicles backed by the latest technology. Additionally, parts such as transmissions and engines are also manufactured.
The scrip was up 0.05% to currently trade at Rs 1644.45 on the BSE.