April 24, 2019 / 5:05 AM / 6 months ago

Hyundai Motor Q1 net profit up 24 pct; beats forecast

SEOUL, April 24 (Reuters) - South Korea’s Hyundai Motor posted a 24 percent rise in net profit for the January-to-March quarter on improving sales at home and the United States, although weak business in China reined in the pace of growth.

Hyundai Motor posted a first-quarter net profit of 829 billion won ($721.81 million), versus 668 billion won a year earlier. This was above an average estimate of 758 billion profit from 15 analysts, according to I/B/E/S Refinitiv data.

Its operating profit rose 21 percent to 825 billion won, while its revenue was up 7 percent to 23.99 trillion won.

$1 = 1,148.5000 won Reporting by Hyunjoo Jin; Editing by Himani Sarkar and Christopher Cushing

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