KOZHIKODE: The Kozhikode-headquartered VPK Motors Pvt Ltd (VPK) saw a surge in its net profit as well as its revenue in the financial year 2023-24 (FY24) with the profit jumping 186 per cent year on year (YoY) from Rs7.49 crore to Rs21.43 crore.
During the same period, the operating income soared from Rs790.26 crore to Rs1,184.09 crore, representing a growth of 50 per cent.
VPK, incorporated in 2000 in Kozhikode, Kerala, and promoted by VPK Abdulla and his sons, is an authorised dealer for Toyota.
Nine showrooms
The company operates nine showrooms and three service outlets in six districts of Kerala. “Demand for Toyota vehicles and healthy performance of the principal are likely to support revenue growth going forward too,” said CRISIL Ratings in its report..
VPK Motors, with a healthy net worth of Rs127 crore as of March end, 2024, seems to have restricted its reliance on external debt to a good extent, resulting in a healthy gearing ratio.
The total bank loan facilities rated by the rating agency are to the tune of only Rs95.49 crore as of March end, 2024.
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