Hyundai Motor India , the country's second-biggest carmaker by market share, reported a 16.5% decline in quarterly profit due to lower domestic sales and exports, its first earnings report since listing showed on Tuesday.

Hyundai Motor India share price extended its weakness after the automaker reported its Q2 results. Hyundai India share price was down for the third day in the row, with the stock losing nearly 7% in three sessions.

(Reuters) -Hyundai Motor India, the country's second-biggest carmaker by market share, reported a 16.5% decline in quarterly profit due to lower domestic sales and exports, its first earnings report since listing showed on Tuesday. The company's shares ...

In the mid- to long-term, the company expects a sustained demand momentum in the industry and will continue to focus on quality of growth by maintaining an optimum balance between volume, market share and margins.

Looking ahead, the company anticipates better performance owing to the new launch of Creat EV in January, along with the recent launch of new variants of the Venue and Alcaazar models.

Hyundai Motors India is India's largest IPO till date but did not see full retail subscription during the three-day issue.

Domestic sales accounted for 1,49,639 units, marking a 5.75 percent decline year-on-year, while exports stood at 42,300 units.

Reliance Power, Nykaa, 3M India, Sula Vineyards, BASF India, Natco Pharma, and Rattanindia Enterprises are among other firms expected to announce earnings today.

Hyundai Motor India Ltd., India’s second-largest carmaker, posted a 16% fall in the first quarterly profit after its public listing last month, amid a broader slowdown in the India consumption demand that has also hurt rivals.