Net profit at South Korea's Hyundai Motor Co dropped 14.9 percent in the first quarter year-on-year, media reports said Thursday.
Net profit in January to March slumped to $1.8 billion in the same period last year, the Yonhap News Agency reported.
"A fall in profit from our equity investments was the main reason behind the sluggish first-quarter earnings," a Hyundai Motor Co official told Yonhap.
Hyundai said it sold 1,018,076 vehicles abroad in the first quarter, up 10.9 percent from last year. Sales on the domestic market fell 0.7 percent to 153,728 units.
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- What to Expect From an Amazon Smartphone
- Auto Parts Plant Opening in Pa., Jobs on Tap
- Clinton Sought GOP Support for Health Plan
- Saucedo Mercer Running on Empty in Arizona
- Earnings Season Starts Rough for Health Insurers
- Spring Salmon Return to San Joaquin
- Asia Seeks Obama's Assurance Over Spats
- IPO Market Shows Signs of Settling Down to Earth
- National Energy Boom Blurs Political Battle Lines