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EquityWireEarnings Review: Hyundai Motor Q3 PAT misses estimates as costs bite
Earnings Review

Hyundai Motor Q3 PAT misses estimates as costs bite

This story was originally published at 16:11 IST on 2 February 2026
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Informist, Monday, Feb. 2, 2026

 

--Hyundai Motor Oct-Dec consol net profit INR 12.34 bln
--Analysts saw Hyundai Motor Oct-Dec consol net profit at INR 13.95 bln
--Hyundai Motor Oct-Dec consol revenue INR 179.73 bln
--Analysts saw Hyundai Motor Oct-Dec consol revenue at INR 178.63 bln
--Hyundai Motor Oct-Dec consol PAT INR 12.34 bln vs INR 11.61 bln year ago
--Hyundai Motor Oct-Dec consol revenue INR 179.73 bln vs INR 166.48 bln yr ago
--Hyundai Motor Apr-Dec consol PAT INR 41.76 bln vs INR 40.26 bln year ago
--Hyundai Motor Apr-Dec consol revenue INR 518.47 bln vs INR 512.53 bln
--Hyundai Motor Oct-Dec consol EBITDA INR 20.18 bln vs INR 18.76 bln year ago
--Hyundai Motor Oct-Dec consol EBITDA margin 11.2% vs 11.3% year ago
--Hyundai Motor Oct-Dec consol EBIT INR 14.50 bln vs INR 13.48 bln year ago
--Hyundai Motor Oct-Dec consol export revenue mix 26.0% vs 22.2% yr ago

--Hyundai Motor Oct-Dec consol domestic revenue mix 74.0% vs 77.8% yr ago

--Hyundai Motor Oct-Dec hatchback volume mix 17% vs 20% yr ago

 

By Anand JC

 

MUMBAI – Hyundai Motor India Ltd. reported a mid-single digit increase in its consolidated bottom line for the December quarter, a touch below analysts' estimates. A rapid rise in commodity costs meant the automaker's profit grew slower than its revenue in the reporting quarter on a year-on-year basis.

 

The consolidated net profit of Hyundai Motor rose 6% on year but fell 21% on quarter to INR 12.34 billion. Analysts had pegged the carmaker's consolidated bottom line at INR 13.95 billion.

 

Hyundai Motor's consolidated top line for the December quarter was INR 179.74 billion, up 8% on year and 3% on quarter. Consensus estimates had pegged the company's top line at INR 178.63 billion.

 

"The third quarter performance underscores our resilience and strong execution of "Quality of Growth" strategy, marked by healthy growth in volumes, revenue and profitability," Managing Director and Chief Executive Officer Tarun Garg said in a press release. "As we move ahead, the robust January'26 sales number gives us great momentum towards a healthy 2026," Garg said.

 

Hyundai Motor's earnings before interest, tax, depreciation, and amortisation for the quarter was INR 20.18 billion, up almost 8% on year but down nearly 17% on quarter. Its EBITDA margin for the quarter was 11.2%, down from 11.3% in the year-ago quarter and 13.9% from the September quarter.

 

Hyundai Motor's total expenditure in the December quarter was INR 165.51 billion, up nearly 8% on year. Bulk of this rise was driven by a 15% on-year rise in cost of materials consumed totalling INR 132.55 billion. Other expenses also saw a marked increase of 21% on year to INR 24.25 billion.

 

OPERATING METRICS

Hyundai Motor's EBIT improved 7.5% on year to INR 14.50 billion in the reporting quarter while its EBIT margin remained unchanged at 8.1%, the company said in a presentation to investors. "(saw a) YoY growth in revenue and profitability despite costs associated with capacity stabilisation and surge in commodity prices," the company said.

 

The company's profit margin for the quarter was 6.8%, lower than 6.9% in the year-ago quarter and much softer than 8.9% in the September quarter.


Hyundai Motor's profit before tax in the December quarter rose nearly 7% on year to INR 16.66 billion. This was supported by favourable export mix and prudent product pricing, the company said. However, its profit before tax moderated almost 22% on quarter due to cost inflation, capacity stabilisation costs, and marketing expenses.

 

SALES MIX

The Creta maker sold 195,436 units in the December quarter, up 5% on year. This growth was driven by a 21% increase in exports even as domestic sales barely grew. The company sold 146,548 cars in India during the quarter and it exported 48,888 units.

 

Contribution of sport utility vehicles increased by a percent on year to 70% of the company's overall sales mix in the December quarter. The facelift of its compact sport utility vehicle, Venue, has garnered robust traction since its launch in November, the company said.

 

Hatchbacks continued to see a decline, contributing only 17% in the reporting quarter, down from 20% in the year-ago quarter. Contribution of sedans saw a mild uptick to 13% in the December quarter from 11% in the year-ago quarter.

 

Around 62% of the cars sold by Hyundai Motor were fuelled by petrol in the December quarter, lower than 67% in the year-ago quarter. Share of diesel cars went up to 21% in the reporting quarter, from 18% in the year-ago quarter. 

 

Contribution of compressed natural gas powertrains to Hyundai Motor's fuel mix remained largely stable at 16%.

 

For Apr-Dec, its consolidated profit was INR 41.76 billion, up almost 4% on year. Its consolidated top line for the first nine months of 2025-26 (Apr-Mar) was INR 518.47 billion, up only around a percent on year. Hyundai Motor's EBITDA for this period grew 3.3% on year to INR 66.33 billion and its EBITDA margin improved 30 basis points on year to 12.8%.

 

Hyundai Motor announced its December quarter financials during market hours. Its shares closed 1% higher at INR 2,197.90 on the National Stock Exchange.  End

 

Edited by Ashish Shirke

 

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