Volkswagen India reports 20% fall in revenues but 65% increase in profit
The brand reported a net profit of Rs 198 crore in 2018-19, a 65% increase from the last financial year
Published - Nov 8, 2019 7:04 AM Updated: Nov 8, 2019 7:04 AM
Volkswagen India Private Limited that retails automobiles and offers cars, vans, trucks, and sport utility vehicles, as well as provides financing, leasing, motor insurance, and maintenance services, reported its revenues for the financial year 2018-19 at Rs 7,339 crore a 20 % fall since the last financial year.
The brand further reported a net profit of Rs 198 crore during the same fiscal. This is a 65% increase from the last financial year. The company’s total expenses for the fiscal were reported as Rs. 7,165 crore.
In July 2018, the Volkswagen Group confirmed investments of Rs 8,000 crore (EUR 1 billion) in the ‘India 2.0’ project.
Last month, Volkswagen Group India announced the merger of its passenger car subsidiaries – Volkswagen India Private (VWIPL), Volkswagen Group Sales India (NSC) and Skoda Auto India Limited (SAIPL) – into SKODA Auto Volkswagen India Private Limited (SAVWIPL).
The first step in the model campaign will involve ŠKODA Auto Volkswagen India launching a mid-size SUV model that will be available from both ŠKODA and Volkswagen.
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