Smartphone maker Vivo India reports net profit of Rs 211 crore in FY23

Chinese smartphone maker’s India subsidiary, Vivo Mobile India has improved its inventory management and has registered profits in the financial year 2022-23 (FY23), The Economic Times (ET) has reported.

The company reported a net profit of Rs 211 crore for FY23, according to recent filings with the Registrar of Companies (RoC). It posted a 9 per cent rise in its sales compared to FY22.

Vivo India is the third-largest in India in terms of sales.

Recently, the company has been in news after government agencies launched a probe into it for alleged non-compliance with local financial laws.