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TVS appoints Sudarshan Venu as MD, elevating chairman emeritus' son

Automobile company announces leadership role as net profit dips 5 per cent in March quarter.

TVS Motor | TVS Motor Company

Shine Jacob  |  Chennai 

Sudarshan Venu, TVS Motor, MD
Sudarshan Venu, TVS Motor, MD

Chennai-based automobile major has appointed Sudarshan Venu as its managing director effective May 5. He is the son of TVS Motor’s chairman emeritus, Venu Srinivasan.

Sudarshan led the company's growth in India and markets in Asia, Africa and Europe. He was appointed the company’s joint managing director in September 2014.

The company posted a 5 per cent dip in net profit of Rs 275 crore during the fourth quarter of 2021-22, as against Rs 289 crore in the fourth quarter of 2020-21. Its revenue from operations revenue from operations in the fourth quarter grew by 4 per cent at Rs. 5,530 crore against Rs. 5,322 crore reported in the fourth quarter of 2020-21. Operating EBITDA for the fourth quarter increased to 10.1 per cent. The Company reported Operating EBITDA of Rs 557 crore for the fourth quarter recording a growth of 4 per cent as against Rs 536 crore in fourth quarter of 2020-21.

The net profit for the year ended March 2022 was at Rs. 894 crore, up 32 per cent as compared to Rs 612 crore reported during the year ended March 2021. During the financial year 2021-22, revenue from operations grew by 24 per cent at Rs. 20,791 crore as against Rs. 16,751 crore recorded in 2020-21.

During the year ended March 2022, the overall two and three-wheeler sales of Company, including international business grew by 8 per cent at 3.31 million units as against 3.052 million units in the year 2020-21. Motorcycles sales during the fiscal year grew by 29 per cent at 1.732 million units as against 1.341 million units in the year ended March 2021. Scooter sales registered 9.23 Lakh units in the year ended March 2022 as against 9.61 Lakh units in the year ended March 2021. Three-wheeler sales grew by 39 per cent at 1.72 Lakh units in the year ended March 2022 as against 1.24 Lakh units in the year ended March 2021.

“Sudarshan’s extraordinary efforts have witnessed key decisions to develop aspirational products and grow fast in India and overseas. He has also led some key acquisitions and the expansion of group . We are confident that under his leadership, will transform into a leading mobility player globally,” said Venu Srinivasan, the chairman emeritus.

“He (Sudarshan) thinks future-oriented, staying ahead of the emerging trends. Personal, smart mobility, including electrification, are two of his big areas of focus. He has also spearheaded the international growth of TVS Motor," said Ralf Dieter Speth, chairman of .

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First Published: Thu, May 05 2022. 19:35 IST