Vivo reports profit in FY21 after 4 yrs helped by sharp cut in ad/promo spends

New Delhi: Vivo Mobiles, the third-largest smartphone brand in India, has reported a net profit for the first time after four years, helped by a sharp cut in advertising & promotional expenses in FY21.

The Chinese smartphone maker’s India business reported a net profit of Rs 552 crore on an operating revenue of Rs 24,725 crore in FY21, according to its financial statement filed with the ministry of corporate affairs.

In earlier filings to the ministry, Vivo had reported losses of Rs 348 crore in FY20, Rs 19 crore in FY19, Rs 124.2 crore in FY18 and Rs 114 crore in FY17.