TVS Motor's Posts PAT Crosses Rs 1,000 Cr For First Time
TVS Motor Company's operating revenue grew by 15 per cent at INR 6,545 crores for the quarter ended December 2022, as against INR 5,706 crores reported in the quarter ended December 2021.
In comparison to 0.02 lakh in the December 2021 quarter and 0.16 lakh in the September 2022 quarter, electric vehicle sales in the third quarter of 2022 totaled 0.29 lakh units.
In the third quarter of 2022–23 compared to the third quarter of 2021–2022 the company's operating EBITDA increased by 16 per cent to INR 659 Crores.
The company's operating EBITDA margin for the quarter is at 10.1 per centas 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 INR 475 crores for the third quarter of 2022-23 as against PBT of INR 391 crores in third quarter of 2021-22.
The company sold 8.36 lakh two-wheelers in the current quarter, up from 8.35 lakh units in the previous quarter ended December 2021.
Two-wheeler export sales registered 2.07 Lakh units as against 2.53 Lakh units in December 2021. The total number of three-wheelers sold decreased from 0.44 lakh in the quarter ended December 2021 to 0.43 lakh in the quarter ended December 2022.
Cumulative nine months results
The total number of two- and three-wheeler sales—including exports—rose from 24.53 lakh units in the same period the previous year to 28.14 lakh units in the nine months ending in December 2022, a 15% increase.
In the nine months that ended in December 2022, there were 13.45 lakh motorcycle sales, up 4 per cent from the nine months that ended in December 2021, when there were 12.90 lakh motorcycle sales. In comparison to the sales of 6.61 lakh units in the nine months ending December 2021, scooter sales for the nine months ending December 2022 increased by 50 per cent, totaling 9.94 lakh units.
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 INR 19,773 Crores as against INR 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 INR 1,457 Crores as against INR 871 Crores during nine months ended December 2021. The Company's Profit After Tax (PAT) for the nine months ended December 2022 is INR 1,081 Crores as against INR 619 Crores during nine months ended December 2021.
(ANI/NewsVoir)
