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.
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