Hyundai Q1 Net Profit Jumps 31%

Hyundai Motor Co HYMLF reported a 31% rise in its first-quarter net profit. Consolidated net profit for quarter climbed to KRW2.452 trillion ($2.2 billion), versus KRW1.877 trillion, in the year-ago period. Its overseas sales surged 22%, while domestic sales dropped 7.1%. However, analysts were expecting a net profit of KRW2.06 trillion. Hyundai's operating profit gained 25% to KRW2.283 trillion from KRW1.828 trillion. Its sales surged 11% to KRW20.165 trillion from KRW18.233 trillion.