You are here: Home » Automobile » News
Business Standard

Kia India profit down 25% in FY22 as tax outgo slams the brakes

Kia is one of the few unlisted global carmakers in India that saw a contraction in profits

Topics
Kia | Automobile | automobile manufacturer

Deepak Patel & Shally Seth Mohile  |  New Delhi 

Photo: Reuters
The South Korean automotive major, which rolled out its first Seltos in the country in August 2019, sold 186,787 units domestically, up 20 per cent year-on-year (YoY), in FY22

India, the local arm of the South Korean carmaker, saw its net profit drop by a fourth in 2021-22 (FY22) over the year-ago period, notwithstanding an operationally strong year. An increase in the total tax outgo during the year dented the company’s earnings.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, November 24 2022. 20:29 IST