Seoul, July 25
Hyundai Mobis, South Korea's leading auto parts maker, said on Friday its second-quarter net profit fell 6.3 percent from a year earlier due to reduced equity gains from affiliates.
Net profit for the three months ended in June declined to 934.4 billion won ($680.8 million) from 997.6 billion won a year earlier, the company said in a regulatory filing, reports news agency.
"A sizable equity gain from Hyundai Motor Co. was reflected in the second quarter of last year, as the carmaker reported strong earnings results," a company spokesperson said.
Hyundai Motor reported a 22 percent on-year decline in second-quarter net profit to 3.25 trillion won, affected by newly imposed U.S. import tariffs that took effect in April.
On April 2, the U.S. government began imposing 25 percent tariffs on all imported vehicles.
Hyundai Mobis holds a 21.86 percent stake in Hyundai Motor.