Hyundai Motor’s operating profit hit 5-year low in Q1

SEOUL — Hyundai Motor’s operating profit fell to the lowest in five years in the first quarter, a regulatory filing showed on Tuesday.

Operating profit was 1.34 trillion won (1.16 billion U.S. dollars) during the January-March period, down 15.5 percent from the same period of last year. From the previous three-month period, the profit declined 11.4 percent.

Net income slumped 10.8 percent from a year earlier to 1.77 trillion won in the first quarter, but revenue increased 6.7 percent to 22.35 trillion won. PNA/Xinhua/northboundasia.com