SEOUL, April 26 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, said Thursday its first-quarter net profit fell 39 percent as demand from major clients remained weak.
Net profit fell to 465.9 billion won (US$431 million) in the January-March quarter from 761.9 billion won a year earlier, the company said in a statement.
Operating profit declined 33 percent to 449.8 billion won in the first quarter from 668.7 billion won a year ago. Sales were down 12 percent to 8.194 trillion won from 9.268 trillion won during the same period, it said.
(END)