UzAuto Motors' profit soars nearly fourfold in first quarter

The profit of UzAuto Motors increased nearly fourfold in the first quarter, as per the Unified Corporate Information Portal of the National Agency for Project Management.

From January to March, the automaker's profit reached 1.29 trillion UZS, 4.74 times higher than the same indicator last year.

UzAuto Motors' revenue totaled 11.68 trillion UZS (a growth of 31.4%), while the cost of goods sold was 9.3 trillion UZS (+20.7%). As a result, gross profit doubled to 2.38 trillion UZS.

During the first three months, retained earnings grew by 19.5% to 7.92 trillion UZS, and equity increased by 14.2% to 10.37 trillion UZS.

Despite an increase in profit, revenue, and equity, the company's assets declined slightly from 36 trillion UZS to 34 trillion UZS.

At the end of December last year, UzAuto Motors contracted the entirety of its 2024 production volume, including 171 thousand Cobalt, Damas, and Labo vehicles. Payments for these contracts could have been made and reflected in the financial indicators for the first quarter of this year.

Additionally, in the spring, the company launched online sales for 42 thousand Labo LB2 Plus and Damas units, which were contracted in less than one hour.