Net profit of UzAuto Motors decreased by 44 percent in the first quarter
Business
The profit of UzAuto Motors in the first quarter of 2023 decreased by 43.8 percent year—on-year to 258.8 billion soums, follows from the company's financial results.
Compared to the same period last year, revenue increased from 8.7 trillion to 8.8 trillion soums, and the cost of products sold from 7.4 trillion to 7.6 trillion soums.
Due to an increase in sales costs, as well as a reduction in other income, profit from core activities decreased by 57 percent, from 634 billion to 272.5 billion soums.
Assets grew by 34 percent in annual terms, to 36.3 trillion soums, but their profitability decreased from 1.7 to 0.7 percent due to a decrease in net profit.
As a result, tax payments at the end of the quarter amounted to 54.3 billion soums against 115.1 billion soums a year earlier.
Due to an increase in sales costs, as well as a reduction in other income, profit from core activities decreased by 57 percent, from 634 billion to 272.5 billion soums.
Assets grew by 34 percent in annual terms, to 36.3 trillion soums, but their profitability decreased from 1.7 to 0.7 percent due to a decrease in net profit.
As a result, tax payments at the end of the quarter amounted to 54.3 billion soums against 115.1 billion soums a year earlier.
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