Ford India’s loss widens to Rs 4,299 crore – Dinamani

by time news

The Indian unit of American carmaker Ford, which decided to exit the country last year, suffered a net loss of Rs 4,229 crore in the financial year 2021-22.

A statement issued by Ford India Pvt Ltd said:

The company’s post-tax loss in the last financial year 2020-21 was Rs 188 crore. This has increased to Rs 4,229 crore in the financial year 2021-22

Ford India Pvt Ltd posted a loss of Rs 188 crore after tax in 2020-21.

The company’s revenue from operations for the financial year 2021-22 was Rs.10,202 crore. It was Rs 12,057 crore in the previous fiscal. Accordingly, the operating income has declined by 15 percent in FY22.

Domestic sales of Rs 2,399 crore are of this operating income. This is 49 per cent lower than the previous year’s revenue of Rs 4,742 crore, the statement said.

Sales: Ford India sold 69,223 cars in 2021-22. The figure was 94,112 in the previous financial year. In that way, the company’s sales have decreased by 26 percent in the financial year 2021-22 compared to the previous financial year. As far as domestic sales are concerned, 48,042 cars were sold in the financial year 2020-21. The figures show a 67 per cent drop in FY22 to 15,870.

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