(LEAD) Hyundai Motor Q1 net jumps 92 pct on weak won, SUVs

▲ This file photo offered by Hyundai Motor Co. shows the upgraded GV60 all-electric model. (PHOTO NOT FOR SALE) (Yonhap)

(LEAD) Hyundai Motor-Q1 earnings

(LEAD) Hyundai Motor Q1 net jumps 92 pct on weak won, SUVs

(ATTN: RECASTS throughout; ADDS photo)

SEOUL, April 25 (Yonhap) -- South Korea's Hyundai Motor Co. said Tuesday its first-quarter net profit jumped 92 percent from a year earlier on a weak won and an improved product mix.

Net profit for the three months ended in March rose to 3.42 trillion won (US$2.56 billion) from 1.78 trillion won during the same period of last year, the company said in a statement.

The net result was buoyed by increased sales of high-end SUVs and the won's weakness against the dollar.

The dollar rose to an average of 1,275.58 won in the first quarter from 1,204.95 won a year earlier, according to data from the Bank of Korea.

"Improved chip supplies led to increased production in the first quarter, and low inventories in major markets are expected to boost sales in the coming quarter," the statement said.

Operating profit soared to a record quarterly high of 3.59 trillion won from 1.93 trillion won a year ago. The operating profit margin also marked a record quarterly high of 9.5 percent in the first quarter.

Sales were up 25 percent to 37.78 trillion won from 30.3 trillion won during the same period.

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