SEOUL, April 24 (Yonhap) -- Hyundai Motor Co.'s first-quarter net profit jumped 30 percent from a year earlier helped by increased sales of new sport utility vehicles and a weaker won, the company said Wednesday.
Net profit for the three months that ended in March rose to 954 billion won (US$830 million) from 732 billion won a year earlier, Hyundai said in a statement.
Robust sales of the flagship Palisade SUV in the domestic market and the won's weakness against the U.S. dollar gave a boost to the bottom line, Hyundai Motor said.
Hyundai launched the all-wheel drive, three-row Palisade domestically in December, with a plan to introduce it in the United States in the summer of 2019.
The won weakened to an average of 1,125.08 against the dollar in the first quarter from 1,072.29 a year ago. A weaker won drives up the value of dollar-denominated earnings when carmakers convert them into the local currency.
The company's operating income climbed 21 percent to 825 billion won in the first three months from 681.3 billion won a year earlier. Sales were up 6.9 percent to 23.99 trillion won from 22.44 trillion won during the same period.
Gas stations in S. Korea becoming logistics hubs for couriers
BOK's rate cut on the table amid increased downside risks
Tech startups bring changes to conservative construction sector
S. Korea accelerating move to expand FTA territory amid protectionism
BOK faces quandary over call for rate cut