BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Hyundai Mobis (012330.KS) reported first quarter net profit 883 billion Korean won, a decline of 14.4% from a year ago. Operating profit was 803 billion won, compared to 777 billion won, prior year. The company said, despite profitability enhancement measures, Module and Core Parts turned red due to decreased OEM production volume, etc.
First quarter sales were 15.56 trillion Korean won, an increase of 5.5% from last year. Despite Hyundai and Kia volume decrease, Module and Core Parts revenue went up by 4.9% to 12.0 trillion won driven by increase in non-captive customer production and ssales expansion centered on electronics.
Hyundai Mobis shares are trading at 4,21,000 Korean won, down 4.86%.
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