Chinese smartphone company Vivo witnessed its revenue in India growing over 45% to about Rs 25,060 crore in FY20 even as its losses widened significantly over the previous fiscal, according to regulatory filings.

Vivo Mobile India's revenue from operations were at Rs 17,201.7 crore for the year ended March 31, 2019, according to Registrar of Companies filing - shared by market intelligence firm Tofler. The company, which competes with players like Xiaomi and Samsung in the Indian market, saw its losses widen to Rs 348.94 crore in FY20 from Rs 18.94 crore in FY19. Vivo's total expenses rose to Rs 25,618.79 crore in FY20 from Rs 17,397.71 crore in the preceding fiscal, the filing said.

"During the period under review, the company has recorded an increase in sales as compared to the sales of the financial year 2018-19. Overall sales have been increased by 45.68% against the previous year. The company incurred the loss of Rs 34,894.14 lakhs in the current financial year (FY20) as compared to the loss of Rs 1,894.45 lakhs of the previous financial year," it added.

Vivo said it will continue its focus on reducing costs and improving efficiencies, tapping new business opportunities, enhancing value addition to its customer base and maximising capacity utilisation with least cost to achieve higher revenue and improve profitability. "The company has also invested in new technologies and assets for product diversification and to make available adequate manufacturing capacities for the growth and to cater to customer requirements in the forthcoming years," the filing said.

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