Hyundai Motor India, the country's No.2 carmaker by market share, reported a 16.5% decline in quarterly profit due to lower domestic sales and as Red Sea disruptions hurt 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.

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.

Standalone net profit of the Creta maker fell 16% YoY to Rs 1,338 crore even as revenue decreased 8.3% You to Rs 16,876 crore.

Hyundai Motor India reported a 16.5% decrease in quarterly profits, marking its first earnings report since going public. The decline was attributed t