In FY23, Hyundai Motor India’s net profit increased by 62.3% to Rs 4,709.25 crore.
In 2021-22, the firm, which is India’s second largest passenger vehicle maker, had a combined net profit of Rs 2,901.59 crore.
According to financial data accessed by business intelligence platform Tofler, Hyundai Motor India Ltd increased its consolidated net profit by 62.3 percent to Rs 4,709.25 crore in the fiscal ended March 31, 2023, with the company surpassing the Rs 60,000 crore sales record.
In 2021-22, the firm, which is India’s second largest passenger vehicle maker, had a combined net profit of Rs 2,901.59 crore.
The company’s revenue from operations climbed to Rs 60,307.58 crore in FY23, up from Rs 47,378.43 crore in FY22.
The company’s overall production in FY22-23 was 7.27 lakh units, up 20% from 6.06 lakh units the previous year.
Hyundai Motor India Ltd (HMIL), which sells popular SUVs such as the Creta and Venue, as well as the Alcazar, Tucson, sedans Verna and Aura, and hatchback Grand i10 NIOS, had its best-ever sales in FY23.
Domestic sales in FY23 totaled 5.67 lakh units, up 17.9 percent from 4.81 lakh units in FY22.
Exports climbed by 18.4 percent to 1.53 lakh units in FY23 from 1.29 lakh units in FY22, mostly due to African and Latin American markets. SHW RKL PTI
