New Delhi, July 30 -- Hyundai Motor India Ltd (HMIL) recorded a fourth straight year-on-year decline in quarterly profit for the April-June period, hurt by high discounts and losing its second position in domestic sales to closest rival Mahindra and Mahindra Ltd.

The Indian subsidiary of Korean giant Hyundai recorded a net profit of Rs.1,369 crore in the first quarter of the financial year ending March 2026, a drop of 8% compared to the year-ago period, it said in an exchange filing on Wednesday. The company attributed the profit decline to shrinking margins as earnings before interest, tax, depreciation and amortization margin (Ebitda) fell 20 basis points to 13.3%. This margin contraction was on account of elevated discounts of around ...