Hyundai Motor India Q3FY26 Profit Up 6% YoY as Export Volumes Jump 21%
Hyundai Motor India reported higher profit in Q3FY26, but the result missed analyst expectations. Net profit rose 6% year on year to ₹1,234 crore, versus a Bloomberg estimate of ₹1,411 crore.
Moreover, revenue increased 8% to ₹17,973 crore in the December quarter. The company credited GST 2.0 benefits and festive demand for stronger domestic momentum.
Hyundai Motor India Q3FY26 results miss profit estimate
Hyundai Motor India said net profit rose to ₹1,234 crore in Q3FY26 from ₹1,160 crore a year earlier. However, higher costs weighed on the earnings outcome versus expectations.
The company reported revenue of ₹17,973 crore for the quarter, marginally above estimates. EBITDA, or earnings before interest, taxes, depreciation, and amortisation, rose 7.6% to ₹2,018.3 crore.
EBITDA margin held near 11.2%, based on company disclosures. Meanwhile, Reuters reported that raw material costs rose 14.8% and employee expenses climbed 15.2%, following new labour codes.
GST 2.0 tax cut boosts sub-4m demand, lifts compact SUVs
The company linked domestic growth to “GST 2.0” benefits during the festival season. Under the revised Goods and Services Tax (GST) structure, sub-4 metre cars moved to an 18% GST rate from 28%, and reports said the compensation cess was removed for that category.
Hyundai said the demand recovery appeared strongest in compact sport-utility vehicles (SUVs). It also flagged that hatchbacks stayed under pressure, even as discounts and tax relief helped revive entry-level purchases.
Wholesale volumes rose 5% sequentially, supported by retail sales during the quarter, the statement said. Consequently, management pointed to an improving sales mix alongside cost controls.
Export volumes rise 21% as January 2026 sales signal momentum
Exports increased 21% year on year to 48,888 units in Q3FY26, and the company said exports contributed about 25% of the sales mix. Still, reports noted that overseas shipments helped offset softer domestic trends amid intense competition.
Managing Director and Chief Executive Officer Tarun Garg said the quarter showed “healthy growth in volumes, revenue, and profitability.” Furthermore, he said year-to-date EBITDA margin expanded to 12.8% from 12.5% last year, supported by mix and cost actions.
Hyundai also highlighted a strong start to calendar year 2026. Reportedly, total sales in January 2026 rose 11.5% year-on-year to 73,137 units, including domestic dispatches of 59,107 units and exports of 14,030 units.
Shares gained after the earnings release and closed near ₹2,208 on the National Stock Exchange (NSE) on Monday.
Looking ahead, Hyundai said January’s performance supports momentum for the rest of FY26. Meanwhile, the company has longer-term plans to invest about $5 billion and launch 26 new models in India by 2030.