Mercedes-Benz India recorded PAT of Rs 441 crore in FY23 after two years of losses

Manufacturer of luxury cars Mercedes-Benz India posted a profit after tax of Rs 441.4 crore in the fiscal year ended March 31, 2022, after two years of losses, according to financial data available by business intelligence platform Tofler.

The non-public entity posted a loss after tax of Rs 107.1 crore and Rs 86.5 crore in 2020-21 and 2019-20, respectively.

Revenue from operations in FY22 was Rs 6,188.5 crore. This was the company’s highest revenue since FY19 when it posted Rs 6,314.3 crore with a profit after tax of Rs 311.4 crore.

In the financial year ended March 31, 2021, the company’s income from operations fell to Rs 3,639 crore as the pandemic affected car sales. In FY20, the company’s revenue from operations was Rs 4,819 crore, according to Tofler data.

Mercedes-Benz India’s operating revenue for the year ended March 31, 2018 was Rs 6,077.9 crore and profit after tax was Rs 306.6 crore.

In terms of unit sales, Mercedes-Benz In FY2021-22, sales in India were reported at 11,942 units, including 472 units of imported fully built units.

In the current calendar year 2022, the company increased its sales in India by 28 percent to 11,469 units in the January-September period, surpassing its sales for the entire year 2021. Mercedes-Benz India a total of 11,242 units were sold in 2021.

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