SKODA AUTO Volkswagen India profit rises 49% to Rs 309.5 crore in FY23
Its revenue from operations came in at Rs 17,041.72 crore in FY23, its highest in the last five financial years, according to the data.
SKODA AUTO Volkswagen India reported net profit of Rs 309.5 crore in financial year 2023, marking an increase of 49 per cent from Rs 208 crore in financial year 2022, data compiled business intelligence platform Tofler showed.
Its revenue from operations came in at Rs 17,041.72 crore in FY23, its highest in the last five financial years, according to the data.
In its regulatory filing, the company said the rise in revenue was due to increase in sales volumes in the domestic market. This was mainly due to the launch of new models under the India 2.0 project.
In FY22, the company's revenue from operations was at Rs 12,410.48 crore; Rs 6,796.52 crore in FY21; Rs 9,300.06 crore in FY20 and Rs 7,062.71 crore in FY19.
In terms of net profit, in the last five fiscals the company posted its highest profit in FY21 at Rs 756.97 crore. It was at Rs 261.39 crore in FY20 and Rs 198.06 crore in FY19.
SKODA AUTO Volkswagen India manages the Indian operations of Volkswagen Group four-wheeler brands -- Skoda, Volkswagen, Audi, Porsche and Lamborghini.
The VW group in 2018 announced an investment of 1 billion euro between 2019 and 2021, as part of its strategy to enhance presence in the country under its 'India 2.0' project.
Published By : Business Desk
Published On: 27 September 2023 at 18:16 IST