Net profit at UzAuto almost halves in 1Q23

By Muzaffar Ismailov in Tashkent May 4, 2023

Net sales revenue of UzAuto Motors in 1Q23 amounted to UZS 8.85 trillion ($776.7mn), the financial automaker said in a financial release. Compared to 1Q22, sales rose by 2%. Net profit shrank by 43.8% y/y to $22.58mn.

The cost of production during the first quarter of this year expanded by 3.5% to $671mn, the company also said. As a result, UzAuto's gross profit decreased by 6.6% y/y.

Due to a 74% expansion in sales costs and administrative costs that were fivefold higher, profit from core activities declined by 2.3 times y/y to $24mn.

Also, as a result of a 3.3-fold decrease in income from FX differences, financial revenues fell almost two-fold to $24.2mn.

 

Related Articles

Unusually intense heatwave hit Central Asia in March, may impact crop yields

Central Asia experienced an unusually intense heatwave in March that could have an impact on agricultural crop yields, according to an April 4 ... more

Russia’s expulsions of migrants reportedly nearly double in 2024 to around 80,000

Russia in 2024 expelled more than 80,000 migrants for immigration rule violations, compared to 44,200 in 2023 and 26,600 in 2022, TASS reported on January 8. The Russian state news agency cited a ... more

Kazakhstan’s transit of Russian oil to Uzbekistan and China amounts to 10.2mn tonnes in 2024

Russia’s transit of oil through Kazakhstan’s pipeline system, operated by main pipeline operator KazTransOil, to China and Uzbekistan totalled 10.21mn tonnes in 2024, ... more

Dismiss