Hyundai Motor India Ltd (HMIL) reported a steady performance in the third quarter of FY26, posting moderate growth in revenue and profit, supported by higher volumes and sustained export momentum, even as margins remained under pressure from costs related to capacity stabilisation.

For the quarter ended December 31, 2025, the company reported consolidated revenue of ₹179,735 crore, an increase of 8% year-on-year compared with ₹166,480 crore in the corresponding quarter last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 7.6% year-on-year to ₹20,183 crore, while net profit increased 6.3% to ₹12,344 crore.

Margins stable despite sequential pressure

EBITDA margin for the quarter stood at 11.2%, broadly flat compared with 11.3% in Q3 FY25 but lower than the 13.9% recorded in the preceding quarter, reflecting cost pressures and investments linked to capacity ramp-up.

On a nine-month basis, Hyundai Motor India reported revenue of ₹518,472 crore for 9M FY26, marginally higher than ₹512,526 crore in the same period last year. EBITDA for the nine-month period rose 3.3% year-on-year to ₹66,325 crore, while profit after tax stood at ₹41,759 crore, up from ₹40,259 crore in 9M FY25.

Despite modest growth in absolute earnings, the company reported an improvement in EBITDA margin for the nine-month period, which expanded to 12.8% from 12.5% a year earlier. The company attributed the margin improvement to a better sales mix and cost control measures, partly offset by higher commodity prices and expenses related to capacity stabilisation.

Exports support volume growth,  domestic volumes aided by festive demand

Volume growth remained supportive during the quarter. Domestic wholesale volumes rose 5% sequentially, aided by festive season demand, while exports increased 21% year-on-year during Q3 FY26. Exports accounted for around 25% of the company’s overall sales mix during the quarter, underscoring their growing contribution to revenue.

For the first nine months of FY26, Hyundai Motor India’s financial performance reflected stable demand conditions and improving operational efficiency, even as margin expansion remained constrained by input costs and ongoing investments.

The company said it continues to focus on balancing volume growth, profitability and cost discipline as it moves into the final quarter of the fiscal year.