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Hyundai Motor profit holds mostly steady YOY in Q2

Hyundai Motor Co. said its second-quarter normalized net income was 6,690.63 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 6,503.12 won per share.

EPS climbed 29.3% year over year from 5,176.40 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.385 trillion won, compared with 1.392 trillion won in the prior-year period.

The normalized profit margin fell to 5.6% from 6.1% in the year-earlier period.

Total revenue rose 8.1% on an annual basis to 24.677 trillion won from 22.822 trillion won, and total operating expenses climbed 8.8% from the prior-year period to 22.915 trillion won from 21.071 trillion won.

Reported net income declined 25.0% year over year to 1.277 trillion won, or 6,166.81 won per share, from 1.703 trillion won, or 6,333.79 won per share.

As of Aug. 16, US$1 was equivalent to 1,094.67 South Korean won.