Hyundai Motor’s operating profit hit five-year low

Seoul, April 26 (IANS) 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) during the January-March period, down 15.5 percent from the same period last year.

The profit declined 11.4 percent, from the previous three-month period, Xinhua news agency reported.

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.

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