Hyundai Motor Q1 net rises 16.8% to 1.77 trillion won

Hyundai Motor's factory in Indonesia's Deltamas industrial complex near Cikarang / Courtesy of Hyundai Motor

Hyundai Motor reported a first-quarter net profit of 1.77 trillion won ($1.4 billion), Monday, up 16.8 percent from a year earlier.

Operating income for the January to March period was 1.92 trillion won, up 16.4 percent, the company said in a regulatory filing. Revenue rose 10.6 percent to 30.29 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 1.35 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)