Hyundai’s profit more than doubles in Q4

SEOUL: Hyundai Motor’s operating profit more than doubled in the fourth quarter from the same period the year before, the company said today, as the South Korean automaker strengthens its lineup of electric vehicles in the global market.

Hyundai’s operating profit jumped 119.6% to 3.4 trillion Korean won (US$2.8 billion) in the October-to-December period, year on year, with revenue jumping 24.2% to 38.5 trillion Korean won.

The company’s net profit, meanwhile, surged 143.8% to 1.7 trillion Korean won for the three months, year on year.