Oppo Mobiles India's FY20 revenue rises 79% to Rs 38,574.5 crore
According to data accessed by Tofler, the company's total expenses jumped 85% to Rs 42,040.3 crore from Rs 22,766 crore
Oppo Mobiles India's revenue from operations for the fiscal ended 31st March 2020 has shot up 79% to Rs 38,574.5 crore from Rs 21,524.6 crore in the previous fiscal.
According to financial data accessed by business intelligence platform Tofler, the company's total expenses jumped 85% to Rs 42,040.3 crore from Rs 22,766 crore. The company's advertising promotional expenses more than doubled to Rs 2,276.5 crore from Rs 1,111.6 crore.
Total loss for the period expanded to Rs 2203.2 crore from Rs 688 crore in the year-ago period.
During the period under review, the company had received ECB of USD 250 Million and ECB of USD 200 Million vide ECB Agreement dated 10th September 2019 and 24th March 2020 for the General Corporate Purposes/Working Capital/Import of Capital Goods/Modernisation or Expansion of Existing Unit/Local Sourcing of Capital Goods.
According to IDC, Oppo had an 11% share of the Indian smartphone market in 2020 with a shipment of 16.5 million handsets. Oppo's annual growth remained flat YoY in 2020, while it maintained a focus on the offline channels, and regained its third slot ahead of Xiaomi with an 18% annual share driven by the affordable A series.
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