The net revenue of UzAuto Motors in the 3 months of 2023 topped 8.85 trillion soums, the company said in a financial report on Wednesday.
Compared to Q1 of 2022, sales increased by 2%, and the cost of production over this period increased by 3.5%, to 7.65 trillion soums. As a result, the company's gross profit decreased by 6.6%.
Due to the increase in sales costs by 74% (up to 362.9 billion soums) and administrative costs by five times (up to 355.4 billion soums), the profit from core activities decreased, which, compared to January-March 2022, decreased by 2. 3 times - up to 272.48 billion soums.
As a result of a 3.3-fold decrease in income from exchange rate differences (to 142.66 billion soums), financial income fell almost twice - to 276.07 billion soums.
While, financial expenses decreased by 2.5 times (to 235.5 billion soums), largely due to a significant reduction in losses from the difference in exchange rates.
Net profit of UzAuto Motors decreased by 43.8% - from 460.48 billion to 258.76 billion soums ($22.58 million at the exchange rate of the Central Bank on May 4), although last year the company reported a quarterly profit of 619.6 billion soums.
The company paid 54.2 billion soums in taxes against 115 billion soums last year.
