TVS Motor Posts Cumulative 9 Months PAT Of Over 1 Thousand Crores

TVS Motor’s operating revenue grew by 15 per cent at Rs 6,545 Crores for the quarter ended December 2022 as against Rs 5,706 Crores reported in the quarter ended December 2021.

EVs registered sales of 0.29 Lakh units in the quarter ended December 2022 as against 0.02 Lakh units during the quarter ended December 2021 and 0.16 Lakh units during quarter ended September 2022.

The company’s operating EBITDA grew by 16 per cent at Rs 659 crores for the third quarter of 2022-23 as against EBITDA of Rs 568 crores in the third quarter of 2021-22. The company’s operating EBITDA margin for the quarter is at 10.1 per cent as against the operating EBITDA margin of 10 per cent reported in the third quarter of 2021-22. The company’s Profit Before Tax (PBT) grew by 21 per cent at Rs 475 crores for the third quarter of 2022-23 as against PBT of Rs 391 crores in the third quarter of 2021-22.

The company registered total two-wheeler sales of 8.36 Lakh units in the current quarter as against 8.35 lakh units in the quarter that ended December 2021. Two-wheeler export sales registered 2.07 lakh units as against 2.53 lakh units in December 2021. Total three-wheelers registered sales of 0.43 lakh units in the quarter ended December 2022 as against 0.44 lakh units in the quarter ended December 2021.  

The overall two-wheeler and three-wheeler sales including exports grew by 15 per cent registering 28.14 lakh units in the nine months ended December 2022 as against 24.53 lakh units registered in the nine months ended December 2021. Motorcycle sales grew by 4 per cent registering 13.45 lakh units in the nine months ended December 2022 as against 12.90 lakh units in nine months ended December 2021. Scooter sales for the nine months ended December 2022 grew by 50 per cent registering 9.94 lakh units as against the sales of 6.61 lakh units in the nine months ended December 2021. The Company recorded two-wheeler exports of 7.54 lakh units in the nine months ended December 2022 as against 8.13 lakh units in the nine months ended December 2021. Three-wheeler sales for the nine months ended December 2022 grew by 8 per cent registering 1.40 lakh units as against 1.30 lakh units during nine months ended December 2021. Scooters include TVS iQube Electric sales of 53,599 units in the nine months ended December 2022 as against 5,207 units in the nine months ended December 2021.

Operating revenue reported for the nine months ended December 2022 is Rs 19,773 crores as against Rs 15,260 crores reported for the nine months ended December 2021. The company’s Profit Before Tax (PBT) for the nine months ended December 2022 is Rs 1,457 crores as against Rs 871 crores during nine months ended December 2021.  The company’s Profit After Tax (PAT) for the nine months ended December 2022 is Rs 1,081 crores as against Rs 619 crores during nine months ended December 2021. 

The Board declared an interim dividend of Rs 5 per share (500 per cent) absorbing a sum of Rs 238 crores for the financial year 2022-23.

During this quarter, Company launched TVS Raider SmartXonnect TFT variant with first-in-class features such as TFT display, TVS SmartXonnect with voice-assist, Bluetooth connectivity, navigation, ride reports and multiple ride modes.