Hyundai Motor India net profit jumps 62.3% to Rs 4,709.25 crore in FY23

Hyundai Motor India net profit jumps 62.3% to Rs 4,709.25 crore in FY23

Hyundai Motor India Ltd posted a 62.3 per cent jump in consolidated net profit to Rs 4,709.25 crore in the fiscal ended March 31, 2023 with the company breaching the Rs 60,000 crore revenue mark in the fiscal, according to financial data accessed by business intelligence platform Tofler.

The company, which is the second largest passenger vehicles manufacturer in India, had posted a consolidated net profit of Rs 2,901.59 crore in 2021-22.

Revenue from operations of the company increased to Rs 60,307.58 crore in FY23 as against Rs 47,378.43 crore in FY22.

The company's total production in FY22-23 was at 7.27 lakh units over 6.06 lakh units in the previous year, an increase of 20 per cent.

In terms of sales, Hyundai Motor India Ltd (HMIL) which sells popular SUVs such as Creta and Venue along with Alcazar, Tucson, sedans Verna and Aura, and hatchback Grand i10 NIOS, posted its highest ever sales in FY23.

Domestic sales in FY23 were at 5.67 lakh units as compared with 4.81 lakh units in FY22, a growth of 17.9 per cent.

The company's exports also increased to 1.53 lakh units in FY23 from 1.29 lakh units in FY22, a growth of 18.4 per cent contributed mainly by African and Latin American markets. PTI RKL SHW