Hyundai Mobis’ Q3 operating profit drops 15 percent

Hyundai Mobis, a parts maker within Hyundai Motor Group, posted 1.44 trillion won in operating profit, a 15.1 percent decrease from a year ago, the company said in a statement Friday.

Between July and September, the parts maker saw 8.42 trillion won in revenue, a 3.9 percent drop on-year, with a net profit of 449.4 billion won, which also declined 6.8 percent over the same period.

Sales dropped due to the lower production volume of vehicles in the last three months and the temporary suspension of a factory in the US state of Ohio. The declining value of currencies in the emerging markets where the company has manufacturing units also played a part, the company said.


By Cho Chung-un (christory@heraldcorp.com)