October 25, 2018 / 5:13 AM / a month ago

Hyundai Motor Q3 net profit dives 68 pct on U.S. recall costs

SEOUL, Oct 25 (Reuters) - Hyundai Motor posted a 68 percent plunge in quarterly net profit, missing an analyst consensus by a large margin, as U.S. recall costs weighed.

Third-quarter net profit came in at 269 billion won ($236.14 million), compared with 852 billion won booked in the same period a year earlier.

That missed a SmartEstimate of 831 billion won, according to Refinitiv data.

Operating profit slumped 76 percent to 289 billion won in the quarter while sales rose 1 percent to 24.43 trillion won. ($1 = 1,139.1700 won) (Reporting by Hyunjoo Jin; Editing by Edwina Gibbs)

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