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TVS Motor Company Q3 Results: Profit Jumps 22.5% YoY, Revenue Up By 14.7%
TVS Motor Company has also declared an interim dividend of Rs 5 per equity share aggregating to Rs 238 crore for fiscal 2023.
New Delhi: Beating expectations, TVS Motor Company Ltd on Tuesday reported a 22.5 per cent jump in its net profit to Rs 352.75 crore year on year (YoY) for the quarter ended December 2022 (Q3 FY23). In the corresponding period a year back (Q3 FY22), the company posted a net profit of Rs 288 crore.
TVS MOTOR COMPANY LIMITED Q3 RESULTS: KEY POINTS
- The two-wheeler manufacturing company’s revenue soared 14.7 per cent YoY to Rs 6,545.42 crore in Q3 FY23 as against Rs 5,706.43 crore in Q3FY22.
- TVS Motor Company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 16 per cent to Rs 659 crore in Q3 FY23 as against Rs 568 crore in Q3 FY22.
- TVS Motor Company has also declared an interim dividend of Rs 5 per equity share aggregating to Rs 238 crore for fiscal 2023.
- During the quarter ended December, TVS Motor Company launched TVS Raider SmartXonnectTM TFT variant with first in-class features such as TFT display, TVS SmartXonnectTM with voice-assist, Bluetooth connectivity, navigation, ride reports and multiple ride modes.
- TVS Motor Company also announced strategic engagement with Amazon India to strengthen electric mobility, electric infrastructure and connected services and strengthening our commitment to achieving net-zero carbon.
- TVS Motor Company’s electric vehicles sales stood at 0.29 lakh units in the quarter ended December 2022.
- In Q3 FY23, TVS Motor Company has registered total two-wheeler sales of 8.36 lakh units as against 8.35 lakh units in the quarter ended December 2021.
- TVS Motor Company’s two-wheeler export sales dipped to 2.07 lakh units in Q3 FY23 from 2.53 lakh units in Q3 FY22. Total three-wheelers registered sales of 0.43 lakh units in the quarter ended December 2022 as against 0.44 lakh units in the quarter ended December 2021, the company said in an exchange filing.
- Shares of TVS Motor Company Limited climbed 0.031 per cent to settle at Rs 982.00 apiece on the NSE on Tuesday.