“With 100 per cent normalization of production, coupled with healthy demand environment and upcoming product pipeline, recovery is likely to gain pace from Q2 onwards across both domestic and export businesses,” he said in a statement.
Garg also said the company remains committed to achieve its stated guidance of 8-10 per cent year on year volume growth for both domestic & exports as well as 11-14 per cent EBITDA margin in FY27.
Hyundai’s first quarter net profit plunged to Rs 888.6 crore from Rs 1,369.2 crore in the same period last year.
Revenue declined to Rs 16,334.6 crore from Rs 16,412.9 crore.
Temporary production disruptions (due a fire incident occurred at one of the manufacturing facilities of its supplier Mobis in Kancheepuram) , limiting domestic volume growth in the quarter to 5.4 per cent year on year. Exports impacted by ongoing West Asia conflict, the company said.