(LEAD) Hyundai Motor-Q4 earnings
(LEAD) Hyundai Motor Q4 net plunges 41 pct on chip shortage
(ATTN: RECASTS throughout with details)
SEOUL, Jan. 25 (Yonhap) -- South Korea's Hyundai Motor Co. said Tuesday its fourth-quarter net profit plunged 41 percent from a year earlier as extended chip shortages affected vehicle production and sales.
Net profit for the three months ended in December came to 701.4 billion won (US$585 million) from 1.183 trillion won a year earlier, the company said in a statement.
But operating profit jumped 22 percent to 1.529 trillion won in the fourth quarter from 1.254 trillion won a year ago helped by an improved product mix and friendly exchange rates, it said.
Sales rose 6 percent to 31.026 trillion won from 29.243 trillion won during the same period.
For the whole of 2021, net income nearly tripled to 5.693 trillion won from 1.925 trillion won a year ago on increased sales of high-end Genesis and SUV models amid the pandemic.
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