By Kwanwoo Jun
Hyundai Mobis Co's second-quarter net profit plunged 64% compared with the same period a year earlier as weak global car shipments in the wake of the Covid-19 pandemic weighed on the car-parts supplier.
Net profit was 234.70 billion Korean won ($195.3 million), the South Korean company said Friday. It beat a FactSet consensus forecast for net profit of KRW224.47 billion.
Second-quarter revenue fell 20% to KRW7.535 trillion, while operating profit dropped 73% to KRW168.74 billion.
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