Vivo Mobile India spent Rs 1133.71 cr on advertising in FY20

According to financial data accessed by business intelligence platform Tofler, Vivo's net loss widened to Rs 348.94 cr, compared to Rs 18.94 cr in the previous fiscal

by exchange4media Staff
Published: Mar 15, 2021 4:21 PM | 1 min read

Vivo Mobile India, which sponsors several big-ticket events like the Indian Premier League (IPL) and Pro Kabaddi League (PKL), has seen an 11.72% dip in its FY20 advertising promotional expenses at Rs 1133.71 crore compared to Rs 1284.3 crore in FY19.

According to financial data accessed by business intelligence platform Tofler, Vivo's net loss widened to Rs 348.94 crore compared to Rs 18.94 crore in the previous fiscal.

During the period under review, the company has recorded an increase in sales as compared to the sales of the financial year 2018-19. Overall sales increased by 45.68% against the previous year.

Revenue from operations climbed to Rs 25060.9 crore from Rs 17201.7 crore a year ago. Other income stood at Rs 63 crore compared to Rs 17.51 crore.

In its FY20 filing, the company said that it will continue its focus to reduce costs and improve efficiencies, tap new business opportunities, enhance value addition to its customer base and maximize capacity utilization with the least cost to achieve higher revenue and improve profitability.

The company also said that has invested in new technologies and assets for product diversification and to make available adequate manufacturing capacities for growth and to cater to customer requirements in the forthcoming years.

Vivo made a downstream investment and incorporated a subsidiary on 6th January 2020 in the name of Fintouch Fintech. Total Investment of Rs. 9,99,990/- has been made by way of acquiring 99.99% shares of the subsidiary company.

Published On: Mar 15, 2021 4:21 PM

Tags Advertising revenue Financial results Vivo india FY20 net loss