Hyundai India Q4 profit tops estimates on SUV demand
Hyundai India posted a 12.56 billion rupee profit, beating estimates. Strong SUV demand helped offset rising commodity costs linked to the ongoing Iran war.
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HYUNDAI MOTOR INDIA LTD reported a fourth-quarter profit of 12.56 billion rupees ($132.96 million), beating analyst estimates of 12.37 billion rupees. The result follows a tax cut in India that boosted showroom footfalls and supported pricing power for higher-margin SUVs. Strong demand for premium models allows the unit of South Korea-based Hyundai to defend its market share against local competition.
