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With the latest investment, Hyundai Motor India now holds a 26.49% stake in FPEL TN Wind Farm Private Ltd. The total investment in the entity stands at ₹38.05 crore.Second Quarter ResultsNet profit increased by 14% from the year-ago period to ₹1,572 crore, slightly higher than the CNBC-TV18 poll of ₹1,518 crore. Sales strategy for the EV portfolio, demand outlook, and new product timelines are some key aspects that the street would want clarity from the management.
Revenue for the quarter increased by 1.2% from last year to ₹17,461 crore. However, the topline was marginally below the CNBC-TV18 poll of ₹17,532 crore. Revenue growth during the quarter was muted as volumes were down 1% on a year-on-year basis.
Also Read: Hyundai Motor India Q1 Results: Exports contribute to stable operational performance, realisations improve
Earnings Before Interest, Tax, Depreciation and Amortisation for the quarter increased by 10% year-on-year to ₹2,430 crore, marginally higher than the CNBC-TV18 poll of ₹2,380 crore. EBITDA margin expanded better than anticipated to 13.9% from 12.8% last year. The CNBC-TV18 poll projection was for margins to be at 13.6%.
Shares of Hyundai Motor India Ltd ended at ₹2,336.85, down by ₹87.20, or 3.60%, on the BSE.
