Hyundai Motor India shares gain 5% despite profit slump; Why brokerages remain bullish | Check target prices
New Delhi, Oct. 29 -- Hyundai Motor India shares jumped over 5% on Thursday, 29 October, following the automaker's Q2 FY27 results, despite a year-on-year decline in quarterly profit due to elevated input costs.
The company reported a 23.9% year-on-year drop in consolidated net profit to Rs.1,196.16 crore for the quarter ended September, compared with Rs.1,572.25 crore in the corresponding period last year.
However, Hyundai Motor India Ltd (HMIL) recorded its highest-ever quarterly sales of 2,19,072 units during the quarter, marking growth of 15% year-on-year and 23% sequentially. Revenue from operations rose to Rs.20,696.05 crore in Q2 FY27 from Rs.17,460.82 crore a year earlier, according to a regulatory filing.
Total expenses increa...
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