Hyundai Motor's Q3 profit posts double-digit decline

Source: Xinhua | 2018-10-26

Hyundai Motor, South Korea's biggest carmaker, posted a double-digit decline in its third-quarter operating profit, a regulatory filing showed Thursday.

Hyundai's operating profit plunged 76 percent over the year to 288.9 billion won (253.6 million U.S. dollars) in the July-September quarter.

It was the lowest quarterly earnings since a new accounting standard, or International Financial Reporting Standards (IFRS), was adopted in 2010.