Vivo India back in the black in FY23, reports Rs 211-cr net profit

New Delhi: Vivo Mobile India, the Chinese-owned smartphone brand under probe by federal agencies for alleged breaches of local financial laws, improved the quality of its inventory management to return to profits in FY23 after recording a loss in the previous fiscal year.

The smartphone brand, India’s third-biggest by sales, reported a net profit of Rs 211 crore for FY23, as per its recent filings with the Registrar of Companies (RoC), after reporting a net loss of Rs 123 crore in FY22, with sales growing 9% as compared to the previous fiscal.