SEOUL, Oct. 24 (Xinhua) -- Hyundai Motor, South Korea's automotive giant, saw its earnings grow in double figures in the third quarter on an enhanced product line including sports utility vehicles (SUVs), the company said Thursday.
Operating profit jumped 31.0 percent from a year earlier to 378.5 billion won (322.7 million U.S. dollars) in the July-September quarter, Hyundai said in a regulatory filing.
Revenue climbed 10.4 percent to 26.97 trillion won (23 billion U.S. dollars), and net income jumped 50.5 percent to 460.5 billion won (392.6 million U.S. dollars) in the quarter.
The revenue growth came as Hyundai improved its product mix with strong sales in the whole SUV line-up ranging from its flagship Palisade to the entry SUV Venue.
Hyundai's global vehicle sales totaled about 1.1 million units in the third quarter, down 1.6 percent from a year ago.
In the domestic market, the car sales shrank 4.7 percent to 163,322 in the quarter, while the sales in the rest of the world edged down 1 percent to 940,090 units.
The company reported a double-digit expansion in operating profit despite the one-off expense of about 600 billion won (512 million U.S. dollars).
The one-off cost was relevant to the Theta 2 Gasoline Direct Injection engine issues, including lifetime warranty and other customer care services, Hyundai said.
Hyundai noted that it would strengthen its line-up with a greater variety of new SUV models while tackling business uncertainties arising from the sluggish global economic growth.
