Live
- Women em‘power’ment can be a game-changer
- Campaign ends for first phase of LS polls in Assam
- New features in TNEB Online payment: What has changed?
- BSE vs. NSE: Unveiling Key Differences and How They Impact Investors
- Financial Fluency, The Power of Punctual Tax Payments
- Dubai Food Festival kicks off This Week with Exciting Lineup of Gastronomic Events and Experiences for its Eleventh Edition
- KeyPoint Technologies Achieves Milestone with Indian Patent Office Approval for Contextual Discovery Innovation
- Unacademy Hosts Udaan in Vizag To Empower Thousands of IIT JEE and NEET UG Aspirants
- Chandrababu Naidu, Pawan Kalyan confident of 'Rama Rajyam' in Andhra
- Global Team Toyota Athletes from Asia Set to Reach for Greater Heights at Paris 2024
French Auto Maker, Renault India, reduce cost and increase fortune in a span of 18 months
Renault India has witnessed volume growth in the fiscal 2021, selling 2,268 units with a market share of 3.4%
French Auto maker, Renault India, has struggled to reduce its losses by more than 86% at Rs. 160 crore, aided by its recent launches of the SUV, Triber and kiger.
French Auto maker, Renault India, has struggled to reduce its losses by more than 86% at Rs. 160 crore, aided by its recent launches of the SUV, Triber and kiger. The Renault is reports its revenues for FY 2020-21 as Rs.5811 crore, 16% fall since the previous financial year. The company's entire expenses for the fiscal year stood at nearing to Rs. 5972 crore, according to the filing with the Ministry of Corporate affairs, which was shared with ET by business research platform Tofler.
The Duster, SUV is trying to reduce its cost and target profitability in this market. Renualt has also set a target to break into profits in the year, 2022.
In FY20, while Renault India's revenue has increased by around 11.68% to Rs. 6920 crore, its loss is almost quadrupled to Rs. 1,136 crore. The company is striving on cutting costs at all levels to swing the fortunes in the next 18 months.
Renualt India, MD,Venkataram Mamillapalle has declined to comment with regards to financials.
Renault India has witnessed volume growth in the fiscal 2021, selling 2,268 units with a market share of 3.4%. As it prioritises the domestic market, there are varied plans to push the export volume of the Triber to neighbouring markets.
Experts have stated that trying to get a larger pie of value conscious low margin mass market, has definitely taken a toll on its financials. Dealer profitability as well as eventually to breakeven as well as build up scale would continue to be focus area for the company.
