Hyundai Motor India’s (NSE: HYUNDAI) share was in focus during trading today on Wednesday. The company’s share fell more than 5% to an intraday low of Rs 1713.25.
This is also its 52-week low price. The reason behind this fall in share is the poor results of the September quarter.
The profit of the country’s second-largest automaker has declined in the September quarter.
September Quarter Results
Hyundai Motor India’s (HMIL) integrated net profit fell 16 percent to Rs 1,375 crore in the second quarter ended September of the current financial year.
Giving this information on Tuesday, the company said that its profit has fallen due to weak market sentiment and geopolitical factors.
The net profit of the company was Rs 1,628 crore in the same period of the previous fiscal year.
HMIL said in a notice to the stock market that its total operating income during the quarter was Rs 17,260 crore, as against Rs 18,660 crore in the same quarter of the previous financial year.
The company announced that it sold 1,91,939 passenger vehicles in September. The company’s domestic sales market was 1,49,639 vehicles.
The Sports Utility Vehicle (SUV) segment has a major contribution to this. The company has also exported 42,300 passenger vehicles.
IPO Came Last Month
Let us tell you that Hyundai Motor India’s IPO came only last month. It was the country’s largest IPO with Rs 27870 crore.
However, the listing of the company’s share was very poor. The stock was listed at Rs 1931 on the BSE, while its IPO price band was Rs 1960.
Similarly, it was listed at Rs 1934 on the National Stock Exchange (NSE).
Hyundai India’s share price declined for three consecutive trading days, the stock has fallen by about 7% in three sessions.
Quick Fact
| Company name | Hyundai Motor India |
|---|---|
| Quarter | September |
| Profit change | Fell 16% |
| Current profit | ₹1,375 crore |
| Previous year profit | ₹1,628 crore |
| Revenue | ₹17,260 crore |
| Previous year revenue | ₹18,660 crore |
| Vehicle sales total | 1,91,939 units |
| Domestic sales | 1,49,639 units |
| Exported vehicles | 42,300 units |
| Main segment | Sports Utility Vehicles (SUV) |
| IPO launch month | Last month |
| IPO value | ₹27,870 crore |
| IPO listing price (BSE) | ₹1931 |
| IPO price band | ₹1960 |
| IPO listing price (NSE) | ₹1934 |
| Recent share decline | 7% over three trading days |
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