Notice (8): Trying to access array offset on value of type null [APP/View/MagazineArticles/view.ctp, line 54]Code Context $user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/MagazineArticles/view.ctp'
$dataForView = array(
'magazineArticle' => array(
'MagazineArticle' => array(
'id' => '4415',
'magazine_issue_id' => '1282',
'magazine_category_id' => '8',
'title' => 'UTS Operating Income Plunged by 52% in FY 2022/23',
'image' => null,
'short_content' => '',
'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
',
'status' => true,
'publish_date' => null,
'created' => '2024-05-16 12:44:26',
'modified' => '2024-05-17 06:39:24',
'keywords' => '',
'description' => '',
'sortorder' => '4322',
'feature_article' => false,
'user_id' => '44',
'image1' => null,
'image2' => null,
'image3' => null,
'image4' => null
),
'MagazineIssue' => array(
'id' => '1282',
'image' => '20240516082336_2024-05-16 08.19.09.jpg',
'sortorder' => '1809',
'published' => true,
'created' => '2024-05-16 08:23:36',
'modified' => '2024-05-16 08:23:36',
'title' => 'May 2024',
'publish_date' => '2024-05-16',
'parent_id' => '0',
'homepage' => true,
'user_id' => '44'
),
'MagazineCategory' => array(
'id' => '8',
'title' => 'Biz News',
'sortorder' => '546',
'status' => true,
'created' => '0000-00-00 00:00:00',
'homepage' => false,
'modified' => '2017-05-03 15:27:12'
),
'User' => array(
'password' => '*****',
'id' => '44',
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'email' => 'paru.ghimire118@gmail.com',
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'created' => '2023-07-13 17:13:05',
'last_login' => '2024-08-11 22:05:39',
'ip' => '172.68.203.141'
),
'MagazineArticleComment' => array(),
'MagazineView' => array(
(int) 0 => array(
[maximum depth reached]
)
)
),
'current_user' => null,
'logged_in' => false
)
$magazineArticle = array(
'MagazineArticle' => array(
'id' => '4415',
'magazine_issue_id' => '1282',
'magazine_category_id' => '8',
'title' => 'UTS Operating Income Plunged by 52% in FY 2022/23',
'image' => null,
'short_content' => '',
'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
',
'status' => true,
'publish_date' => null,
'created' => '2024-05-16 12:44:26',
'modified' => '2024-05-17 06:39:24',
'keywords' => '',
'description' => '',
'sortorder' => '4322',
'feature_article' => false,
'user_id' => '44',
'image1' => null,
'image2' => null,
'image3' => null,
'image4' => null
),
'MagazineIssue' => array(
'id' => '1282',
'image' => '20240516082336_2024-05-16 08.19.09.jpg',
'sortorder' => '1809',
'published' => true,
'created' => '2024-05-16 08:23:36',
'modified' => '2024-05-16 08:23:36',
'title' => 'May 2024',
'publish_date' => '2024-05-16',
'parent_id' => '0',
'homepage' => true,
'user_id' => '44'
),
'MagazineCategory' => array(
'id' => '8',
'title' => 'Biz News',
'sortorder' => '546',
'status' => true,
'created' => '0000-00-00 00:00:00',
'homepage' => false,
'modified' => '2017-05-03 15:27:12'
),
'User' => array(
'password' => '*****',
'id' => '44',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'paru.ghimire118@gmail.com',
'name' => null,
'email' => 'paru.ghimire118@gmail.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2023-07-13 17:13:05',
'last_login' => '2024-08-11 22:05:39',
'ip' => '172.68.203.141'
),
'MagazineArticleComment' => array(),
'MagazineView' => array(
(int) 0 => array(
'magazine_article_id' => '4415',
'hit' => '336'
)
)
)
$current_user = null
$logged_in = false
$user = null
include - APP/View/MagazineArticles/view.ctp, line 54
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/MagazineArticles/view.ctp, line 54]Code Context $user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/MagazineArticles/view.ctp'
$dataForView = array(
'magazineArticle' => array(
'MagazineArticle' => array(
'id' => '4415',
'magazine_issue_id' => '1282',
'magazine_category_id' => '8',
'title' => 'UTS Operating Income Plunged by 52% in FY 2022/23',
'image' => null,
'short_content' => '',
'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
',
'status' => true,
'publish_date' => null,
'created' => '2024-05-16 12:44:26',
'modified' => '2024-05-17 06:39:24',
'keywords' => '',
'description' => '',
'sortorder' => '4322',
'feature_article' => false,
'user_id' => '44',
'image1' => null,
'image2' => null,
'image3' => null,
'image4' => null
),
'MagazineIssue' => array(
'id' => '1282',
'image' => '20240516082336_2024-05-16 08.19.09.jpg',
'sortorder' => '1809',
'published' => true,
'created' => '2024-05-16 08:23:36',
'modified' => '2024-05-16 08:23:36',
'title' => 'May 2024',
'publish_date' => '2024-05-16',
'parent_id' => '0',
'homepage' => true,
'user_id' => '44'
),
'MagazineCategory' => array(
'id' => '8',
'title' => 'Biz News',
'sortorder' => '546',
'status' => true,
'created' => '0000-00-00 00:00:00',
'homepage' => false,
'modified' => '2017-05-03 15:27:12'
),
'User' => array(
'password' => '*****',
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'username' => 'paru.ghimire118@gmail.com',
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'email' => 'paru.ghimire118@gmail.com',
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'ip' => '172.68.203.141'
),
'MagazineArticleComment' => array(),
'MagazineView' => array(
(int) 0 => array(
[maximum depth reached]
)
)
),
'current_user' => null,
'logged_in' => false
)
$magazineArticle = array(
'MagazineArticle' => array(
'id' => '4415',
'magazine_issue_id' => '1282',
'magazine_category_id' => '8',
'title' => 'UTS Operating Income Plunged by 52% in FY 2022/23',
'image' => null,
'short_content' => '',
'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
',
'status' => true,
'publish_date' => null,
'created' => '2024-05-16 12:44:26',
'modified' => '2024-05-17 06:39:24',
'keywords' => '',
'description' => '',
'sortorder' => '4322',
'feature_article' => false,
'user_id' => '44',
'image1' => null,
'image2' => null,
'image3' => null,
'image4' => null
),
'MagazineIssue' => array(
'id' => '1282',
'image' => '20240516082336_2024-05-16 08.19.09.jpg',
'sortorder' => '1809',
'published' => true,
'created' => '2024-05-16 08:23:36',
'modified' => '2024-05-16 08:23:36',
'title' => 'May 2024',
'publish_date' => '2024-05-16',
'parent_id' => '0',
'homepage' => true,
'user_id' => '44'
),
'MagazineCategory' => array(
'id' => '8',
'title' => 'Biz News',
'sortorder' => '546',
'status' => true,
'created' => '0000-00-00 00:00:00',
'homepage' => false,
'modified' => '2017-05-03 15:27:12'
),
'User' => array(
'password' => '*****',
'id' => '44',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'paru.ghimire118@gmail.com',
'name' => null,
'email' => 'paru.ghimire118@gmail.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2023-07-13 17:13:05',
'last_login' => '2024-08-11 22:05:39',
'ip' => '172.68.203.141'
),
'MagazineArticleComment' => array(),
'MagazineView' => array(
(int) 0 => array(
'magazine_article_id' => '4415',
'hit' => '336'
)
)
)
$current_user = null
$logged_in = false
$user = null
include - APP/View/MagazineArticles/view.ctp, line 54
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/MagazineArticles/view.ctp, line 55]Code Context //find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/MagazineArticles/view.ctp'
$dataForView = array(
'magazineArticle' => array(
'MagazineArticle' => array(
'id' => '4415',
'magazine_issue_id' => '1282',
'magazine_category_id' => '8',
'title' => 'UTS Operating Income Plunged by 52% in FY 2022/23',
'image' => null,
'short_content' => '',
'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
',
'status' => true,
'publish_date' => null,
'created' => '2024-05-16 12:44:26',
'modified' => '2024-05-17 06:39:24',
'keywords' => '',
'description' => '',
'sortorder' => '4322',
'feature_article' => false,
'user_id' => '44',
'image1' => null,
'image2' => null,
'image3' => null,
'image4' => null
),
'MagazineIssue' => array(
'id' => '1282',
'image' => '20240516082336_2024-05-16 08.19.09.jpg',
'sortorder' => '1809',
'published' => true,
'created' => '2024-05-16 08:23:36',
'modified' => '2024-05-16 08:23:36',
'title' => 'May 2024',
'publish_date' => '2024-05-16',
'parent_id' => '0',
'homepage' => true,
'user_id' => '44'
),
'MagazineCategory' => array(
'id' => '8',
'title' => 'Biz News',
'sortorder' => '546',
'status' => true,
'created' => '0000-00-00 00:00:00',
'homepage' => false,
'modified' => '2017-05-03 15:27:12'
),
'User' => array(
'password' => '*****',
'id' => '44',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'paru.ghimire118@gmail.com',
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'email' => 'paru.ghimire118@gmail.com',
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'ip' => '172.68.203.141'
),
'MagazineArticleComment' => array(),
'MagazineView' => array(
(int) 0 => array(
[maximum depth reached]
)
)
),
'current_user' => null,
'logged_in' => false
)
$magazineArticle = array(
'MagazineArticle' => array(
'id' => '4415',
'magazine_issue_id' => '1282',
'magazine_category_id' => '8',
'title' => 'UTS Operating Income Plunged by 52% in FY 2022/23',
'image' => null,
'short_content' => '',
'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
',
'status' => true,
'publish_date' => null,
'created' => '2024-05-16 12:44:26',
'modified' => '2024-05-17 06:39:24',
'keywords' => '',
'description' => '',
'sortorder' => '4322',
'feature_article' => false,
'user_id' => '44',
'image1' => null,
'image2' => null,
'image3' => null,
'image4' => null
),
'MagazineIssue' => array(
'id' => '1282',
'image' => '20240516082336_2024-05-16 08.19.09.jpg',
'sortorder' => '1809',
'published' => true,
'created' => '2024-05-16 08:23:36',
'modified' => '2024-05-16 08:23:36',
'title' => 'May 2024',
'publish_date' => '2024-05-16',
'parent_id' => '0',
'homepage' => true,
'user_id' => '44'
),
'MagazineCategory' => array(
'id' => '8',
'title' => 'Biz News',
'sortorder' => '546',
'status' => true,
'created' => '0000-00-00 00:00:00',
'homepage' => false,
'modified' => '2017-05-03 15:27:12'
),
'User' => array(
'password' => '*****',
'id' => '44',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'paru.ghimire118@gmail.com',
'name' => null,
'email' => 'paru.ghimire118@gmail.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2023-07-13 17:13:05',
'last_login' => '2024-08-11 22:05:39',
'ip' => '172.68.203.141'
),
'MagazineArticleComment' => array(),
'MagazineView' => array(
(int) 0 => array(
'magazine_article_id' => '4415',
'hit' => '336'
)
)
)
$current_user = null
$logged_in = false
$user = null
$groupId = null
include - APP/View/MagazineArticles/view.ctp, line 55
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Undefined index: summary [APP/View/MagazineArticles/view.ctp, line 62]Code Context<?php
echo $this->Html->meta(array('name' => 'description', 'type' => 'meta', 'content' => $magazineArticle['MagazineArticle']['summary']), null, array('inline' => false));?>
$viewFile = '/var/www/html/newbusinessage.com/app/View/MagazineArticles/view.ctp'
$dataForView = array(
'magazineArticle' => array(
'MagazineArticle' => array(
'id' => '4415',
'magazine_issue_id' => '1282',
'magazine_category_id' => '8',
'title' => 'UTS Operating Income Plunged by 52% in FY 2022/23',
'image' => null,
'short_content' => '',
'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
',
'status' => true,
'publish_date' => null,
'created' => '2024-05-16 12:44:26',
'modified' => '2024-05-17 06:39:24',
'keywords' => '',
'description' => '',
'sortorder' => '4322',
'feature_article' => false,
'user_id' => '44',
'image1' => null,
'image2' => null,
'image3' => null,
'image4' => null
),
'MagazineIssue' => array(
'id' => '1282',
'image' => '20240516082336_2024-05-16 08.19.09.jpg',
'sortorder' => '1809',
'published' => true,
'created' => '2024-05-16 08:23:36',
'modified' => '2024-05-16 08:23:36',
'title' => 'May 2024',
'publish_date' => '2024-05-16',
'parent_id' => '0',
'homepage' => true,
'user_id' => '44'
),
'MagazineCategory' => array(
'id' => '8',
'title' => 'Biz News',
'sortorder' => '546',
'status' => true,
'created' => '0000-00-00 00:00:00',
'homepage' => false,
'modified' => '2017-05-03 15:27:12'
),
'User' => array(
'password' => '*****',
'id' => '44',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'paru.ghimire118@gmail.com',
'name' => null,
'email' => 'paru.ghimire118@gmail.com',
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'ip' => '172.68.203.141'
),
'MagazineArticleComment' => array(),
'MagazineView' => array(
(int) 0 => array(
[maximum depth reached]
)
)
),
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'title' => 'UTS Operating Income Plunged by 52% in FY 2022/23',
'image' => null,
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'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
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'image' => '20240516082336_2024-05-16 08.19.09.jpg',
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'created' => '2024-05-16 08:23:36',
'modified' => '2024-05-16 08:23:36',
'title' => 'May 2024',
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include - APP/View/MagazineArticles/view.ctp, line 62
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Undefined index: summary [APP/View/MagazineArticles/view.ctp, line 68]Code Context echo $this->Html->meta(array('property' => 'og:title', 'type' => 'meta', 'content' => $magazineArticle['MagazineArticle']['title']), null, array('inline' => false));?>
<?php
echo $this->Html->meta(array('property' => 'og:description', 'type' => 'meta', 'content' => $magazineArticle['MagazineArticle']['summary']), null, array('inline' => false));?>
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'image' => null,
'short_content' => '',
'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
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'content' => '<p>The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22. </p>
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include - APP/View/MagazineArticles/view.ctp, line 68
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
UTS Operating Income Plunged by 52% in FY 2022/23
The business of United Traders Syndicate (UTS), the authorized distributor of Toyota Motor Corporation has slumped by 52 percent in FY 2022/23. According to credit rating agency, CareRatings, the operating income of UTS plunged to Rs 3.65 billion in FY 2022/23 compared to Rs 7.61 billion in FY 2021/22. The operating income declined on account of import restrictions affecting demand in the first half of FY 2022/23 in addition to sluggish demand scenarios across the automobile sector in FY2022/23. The restriction in automobile imports resulted in a significant dip in the quantity of Toyota vehicles sold to 251 units during FY2022/23 from 550 units during FY2021/22. The decline in the scale of operations coupled with increased finance costs in FY2022/23 amid elevated interest rates led to a decline in profitability. Net profit was Rs 4 million in FY2022/23, much lower than net profit of Rs 390 million in FY 2021/22.
