© Reuters. FILE PHOTO: The logo of Hyundai Motor is seen at its dealership in Seoul, South Korea, April 26, 2017. REUTERS/Kim Hong-Ji
SEOUL (Reuters) -South Korea’s Hyundai Motor Co posted a 3% fall in third-quarter profit on Monday due to a 1.36 trillion won ($906 million) provision to pay for costs related to engine quality issues.
Net profit dropped to 1.27 trillion won for the July-September period, compared with 1.31 trillion won in the same period a year earlier and a Refinitiv SmartEstimate of 2.4 trillion won drawn from 17 analysts.
Revenue for the quarter jumped 31% to 37.7 trillion won, just below the 36 trillion won analysts had expected.
Shares in Hyundai Motor, which together with affiliate Kia Corp is the among the world’s top 5 automakers by sales, were down 2.4% as of 0505 GMT, compared with a 0.95% rise in the broader market .
($1 = 1,434.4400 won)
