Hyundai Motor India , the country's second-biggest carmaker by market share, reported a 16.5% decline in quarterly profit due to lower domestic sales and exports, its first earnings report since listing showed on Tuesday.

Maruti Suzuki, a dominant force in the passenger vehicle (PV) segment, continues to leverage its expansive portfolio and widespread dealership network to maintain market leadership. On the other hand,

Domestic sales accounted for 1,49,639 units, marking a 5.75 percent decline year-on-year, while exports stood at 42,300 units.

Looking ahead, the company anticipates better performance owing to the new launch of Creat EV in January, along with the recent launch of new variants of the Venue and Alcaazar models.

Hyundai Motor India share price extended its weakness after the automaker reported its Q2 results. Hyundai India share price was down for the third day in the row, with the stock losing nearly 7% in three sessions.

Revenue from operations in the reporting period, too, fell 7% year-on-year (YoY) to Rs 17,260 crore. The stock is trading 2.50% lower. The company reported an EBITDA of Rs 2,205 crore in Q2, a 10% drop from Rs 2,

Hyundai Motor India Ltd (HMIL) on November 12 said its consolidated net profit fell 16 percent to Rs 1,375 crore for the quarter ended September 30, 2024, due to lower domestic sales, geopolitical factors and exports,

The fall in Hyundai Motor India's stock price follows its announcement of financial results for the second quarter of the FY25, which is also its maiden quarterly earnings since its market debut

Hyundai Motors India is India's largest IPO till date but did not see full retail subscription during the three-day issue.