Rs 12,600 cr H1 revenue: Hyundai India

Hyundai Motor Co reported 3% increase in revenue from Indian operations at 2,612 billion Korean Won during the first half of 2012.

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Korean auto major Hyundai Motor Co today reported 3 per cent increase in revenue from Indian operations at 2,612 billion Korean Won (over Rs 12,600 crore) during the first half of 2012 amid declining sales of its main models,except for entry-level small car Eon.

According to its half yearly business results report,the the company’s Indian arm — Hyundai Motor India Ltd (HMIL) had a revenue of 2,533 billion Korean Won (over Rs 12,300 crore) in the first half of 2011.

In terms of volumes,HMIL posted 7.2 per cent increase in sales during the first half of 2012 to 3,25,000 units as against 3,03,000 units in the same period last year.

The gain in the volume was mainly on account of the entry level hatchback,Eon which clocked 62,000 units during the period. HMIL had launched Eon in October last year.

During the period under review,sales of the company’s best selling model i10 declined by 11.26 per cent to 1,26,000 units in the first six months of the year as compared to 1,42,000 in the year-ago period,the report said.

Sales of premium hatchback i20 also declined by 16.41 per cent to 56,000 units in the first six months of the year as compared to 67,000 units in the same period last year.

HMIL’s combined sales of other models,including Santro,Accent and Verna,also dropped by 13.82 per cent to 81,000 units during the period under review as against 94,000 units the corresponding period in 2011,it added.

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The company has a manufacturing plant at Chennai with an annual capacity to produce 6.3 lakh units. Apart from selling its vehicles in India,HMIL also exports to 120 countries across EU,Africa,Middle East,Latin America and the Asia Pacific.

Hyundai Motor Co’s global sales during the first half of 2012 stood at 42,105 billion Korean Won as against 38,325 billion Korean Won in the same period last year.

Net profit for the first six months of 2012 stood at 4,998 billion Korean Won as against 4,184 billion Korean Won.