Ludhiana, March 16, 2023 (News Team): The Škoda Auto Group1) delivered 731,300 vehicles worldwide in 2022 and increased its revenues year-on-year by 18.5% to 21 billion euros (2021: 17.7 billion euros). The market environment remained challenging due to the ongoing semiconductor shortage, persisting supply chain issues and a substantial increase in raw material prices. Thanks to effective countermeasures, the car manufacturer managed to achieve a positive operating profit amounting to 628 million euros (2021: 1.083 billion euros; -42%). This was attained despite the financial burden of extraordinary effects regarding the situation in Russia. The negative impacts related to the business in Russia were estimated at almost 700 million euros. Therefore, the return on sales without these extraordinary effects slightly exceeded last year's 6.1%, but dropped to 3.0% including extraordinary effects. Despite the current challenges, Škoda continues to be financially sound, pushing the internationalization of the company and keeps investing heavily into electromobility and digitalization.
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View More Ludhiana, March 16, 2023 (News Team): The Škoda Auto Group1) delivered 731,300 vehicles worldwide in 2022 and increased its revenues year-on-year by 18.5% to 21 billion euros (2021: 17.7 billion euros). The market environment remained challenging due to the ongoing semiconductor shortage, persisting supply chain issues and a substantial increase in raw material prices. Thanks to effective countermeasures, the car manufacturer managed to achieve a positive operating profit amounting to 628 million euros (2021: 1.083 billion euros; -42%). This was attained despite the financial burden of extraordinary effects regarding the situation in Russia. The negative impacts related to the business in Russia were estimated at almost 700 million euros. Therefore, the return on sales without these extraordinary effects slightly exceeded last year's 6.1%, but dropped to 3.0% including extraordinary effects. Despite the current challenges, Škoda continues to be financially sound, pushing the internationalization of the company and keeps investing heavily into electromobility and digitalization.
Ludhiana, March 13, 2023 (News Team): IDFC Mutual Fund is set to adopt its new brand identity as Bandhan Mutual Fund on Monday, March 13, 2023. Consequently, each scheme of the fund house will be renamed to replace the word ‘IDFC’ with the word ‘Bandhan’. Since the underlying investment strategy, processes, and team continue to remain the same, investors can benefit from the same high‐quality investment approach that the fund house is reputed for.
Ludhiana, March 10, 2023 (News Team): Omaxe Ltd., one of India's leading real estate developers, has recently launched its new luxury project –Royal Signature, in Ludhiana. Spread across 1.85 acres, this opulent project is within Omaxe's fully integrated luxury township called "Royal Residency," conveniently located at Pakhowal Road, a prominent residential area in Ludhiana. The towering structure soaring 120 metres high, stands as the tallest tower in Ludhiana and Punjab.
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