Hyundai Motor Results

Hyundai Motor India Ltd (HMIL) on Thursday reported 16.26 per cent rise in total sales at 59,601 units in May as compared to the same month last year. The company had posted a total sales of 51,263 units in May 2022, HMIL said in a statement. Domestic sales grew 14.91 per cent at 48,601 units as compared to 42,293 units in the year-ago month, it added. Exports were at 11,000 units last month as against 8,970 units in the same period a year ago, up 22.63 per cent. HMIL COO Tarun Garg said the company's double-digit sales growth in May was fuelled by its SUVs Creta and Venue. The recently launched all-new Verna sedan also received good response, he added.

Net profit for January-March was $376 million, far below than expectations

Shares in the automaker tumbled as much as 10 per cent

This is the 14th straight bleak quarter for the automobile company