TVS Motor Q4 net profit rises 22% to Rs 336 crore on rise in sales

Chennai-based automobile major TVS Motor Company has posted a 22 per cent rise in consolidated net profit during the fourth quarter of 2022-23 to Rs 336 crore, as compared to Rs 275 crore during the January-March period of 2021-22, due to a rise in sales.

During the period, the company’s revenue from operations also saw a 22 per cent rise to Rs 8,031 crore against Rs 6,585 crore during the same quarter last year. At the same time, the two-wheeler major’s net profit for the entire financial year zoomed 79 per cent from Rs 731 crore in FY22 to Rs 1,309 crore in FY23.

The revenue for the entire year increased from Rs 24,355 crore last year to Rs 31,974 crore in 2022-23.

During the fourth quarter, the overall two-wheeler and three-wheeler sales, including exports, is at 868,000 units in the quarter ended March 2023 as against 856,000 units registered in the quarter ended March 2022. Motorcycle sales for the quarter ended March 2023 registered 389,000 units as against 442,000 units in the March 2022 quarter. Scooter sales for the quarter ended March 2023 grew by 30 per cent.

Electric vehicles saw sales of 43,000 units in the quarter ended March 2023 as against 6,000 during the quarter ended March 2022 and 29,000 units during the quarter ended December 2022. Three-wheeler sales for the quarter under review was 29,000 units as against 42,000 units in the fourth quarter of 2021-22.