TVS Motor Witnesses a Net Profit of 22.57% growth in its 3rd Quarter

TVS Motor Company has declared a net profit of Rs 353 crore, a 22.57% increase over Rs 288 crore recorded during the comparable period of the previous financial year.

In comparison to the quarter ending December 2021, the two- and three-wheeler industry leader's revenue increased by 15% to Rs 6,545 crore for the quarter ending December 2022.

In comparison to the third quarter of 2021–2022, the company's operating EBITDA increased 16% to Rs 659 crore during Q3. The operating EBITDA margin increased somewhat for the quarter to 10.1% from the 10% reported in the third quarter of 2021–22. From Rs 391 crore in the 3rd quarter of 2021–2022 to Rs 475 crore for the 3rd quarter, TVS Motors' profit before tax (PBT) increased by 21%.

Operating income was reported for the nine months ending December 31, 2022, at Rs 19,773 crore, compared to Rs 15,260 crore for the same period the previous year. Compared to the nine months ending December 31, 2021, the company's profit before tax (PBT) for the nine months ending December 2022 was Rs 1,457 crore.

For the nine months that concluded in December 2022, the profit after tax (PAT) increased from Rs 619 crore to Rs 1,081 crore.

The business reports that two-wheeler sales as a whole were 8.36 lakh units in the third quarter, up from 8.35 lakh units in the fourth quarter that ended in December 2021.

The quarter concluded in December 2021 saw a decrease in two-wheeler export sales, from 2.53 lakh units to 2.07 lakh units. In addition, sales of three-wheelers as a whole decreased to 43,000 units in the quarter that ended in December 2022 from 44,000 units in the comparable quarter the year before.

Compared to 2,000 units during the quarter that ended December 2021 and 16,000 units during the quarter that ended September 2022, the business claims EV sales of 29,000 units for the quarter that ended December 2022.

At its meeting on Tuesday, the TVS Motor Board decided to pay an interim dividend of Rs 5 per share (500%) for the fiscal year 2022–23, which will cost Rs 238 crore in total.