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4/24, 7:17 AM (Source: TeleTrader)
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Hyundai's net profit jumps 30% in Q1

South Korean automaker Hyundai Motor announced on Wednesday its net profit in the first quarter of the year increased by 33% compared to last year to reach 954 billion won ($830 million). The rise in profit was attributed to a weaker South Korean currency, the won, as well as stronger sales of a new sport utility vehicles (SUV), the Palisade (pictured).

Meanwhile, the company's operating income rose to 825 billion won, marking a 21% increase annually. Sales in the same quarter were up 6.9% to hit 23.99 trillion won.

Breaking the News / FH