 "Ralf Dieter Speth to replace Venu Srinivasan as TVS Motor chairman")
TVS Motor announced on Monday that its non-executive director Ralf Dieter Speth will be taking charge as the chairman of the company from April 1, 2022, replacing veteran Venu Srinivasan.
Meanwhile, TVS Motor, the flagship entity of the TVS Group, has posted a 9 per cent rise in net profit during the third quarter of the current financial year (FY22) with Rs 288 crore in its kitty as compared to Rs 266 crore during the corresponding quarter of FY21.
The company also reported a highest-ever operating revenue of Rs 5,706 crores in the third quarter of FY22 as against Rs 5,391 crore in the third quarter of FY21.
The company’s operating earnings before interest, tax, depreciation and amortisation (EBITDA) margin was at 10 per cent during the period under review as against 9.5 per cent during the third quarter that ended in December, 2020.
The company registered the highest ever operating EBITDA of Rs 568 crores during this quarter compared to Rs 511 crore during the same time in FY21. The Chennai-based firm sold a total of 8.35 lakh two-wheelers in the last quarter of 2021 as against 9.52 lakh units in the final quarter of 2020.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%