South Korea's Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade as the spreading coronavirus outbreak hit demand for cars worldwide.
FILE PHOTO: Employees of Hyundai Motor Group leave after the company's new year ceremony in Seoul, South Korea, January 2, 2020. REUTERS/Kim Hong-Ji/File Photo
Net profit for January-March was 463 billion won , far below an average Refinitiv estimate of 607 billion won drawn from 15 analysts. Operating profit dropped 5% to 864 billion won from the same period a year earlier on an 6% slide in revenue.
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