Skoda Auto Volkswagen India Pvt Ltd, owned by the Indian subsidiary of German automotive manufacturing company Volkswagen Group, reported a 34% jump in its revenues for the financial year 2022-23.

However, its advertising promotional expenses came down from Rs 866.6 crores in FY22 to Rs 597.8 crores in FY23.

According to the company's financial data accessed by business intelligence platform Tofler, its revenue stood at Rs 18,510 crore in FY23 with a net profit of Rs 309 crore during the same fiscal. This is a 49 % increase from the last financial year.

Its revenue from operations was up from Rs 12,410 crore in FY22 to Rs 17,041 crore in FY23.

The company’s total expenses for the fiscal were reported as Rs 17,747 crore. Its depreciation and amortization expenses stood at Rs 894 crore, up from Rs 713 crore in FY22.