In 1Q24, UzAuto Motors' net profit soared to UZS 1.3 trillion ($103.5 mn), a 374.5% increase compared to the same period in 2023, KAP DEPO reports. This growth accompanies a 31.4% rise in net revenue and a 100.6% increase in gross revenue.
The company reported that long-term bank loans reached UZS 1.8 trillion ($143.3 mn), while other long-term loans increased to UZS 3.8 trillion ($302.4 mn), showing a 10.4% increase. Short-term loans, however, saw a substantial reduction, dropping from UZS 704.7 bn ($56.1 mn) to UZS 9 bn ($716,319).
During 9M23, UzAuto Motors generated UZS 38.1 trillion ($3.1 bn) in revenue, marking a 40% increase from the previous year. However, production costs soared by 1.5 times to UZS 33 trillion ($2.6 bn), which moderated the net profit growth.
Gross profit from product sales in 2023 remained robust, exceeding UZS 5.1 trillion ($406 mn), a 21% increase y/y. Operating expenses rose by 25%, totalling UZS 3.07 trillion ($250.4 mn). Additionally, administrative costs increased significantly by 57.9%, reaching UZS 432.7 bn ($35.3 mn).
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