Ralf Dieter Speth to replace Venu Srinivasan as TVS Motor chairman

Speth had worked in companies like BMW, Premier Auto Group and Linde among others

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.