TVS Motors records 22% YoY rise in Q3 PAT; board OKs interim dividend of Rs 5 per share

TVS Motor Company reported 22% rise in standalone net profit to Rs 353 crore on a 15% increase in revenue to Rs 6,545 crore in Q3 FY23 over Q3 FY22.

Operating EBITDA grew by 16% at Rs 659 crore for the third quarter of 2022-23 as against EBITDA of Rs 568 crore in third quarter of 2021-22. Operating EBITDA margin for the quarter was at 10.1% as against 10% reported in the third quarter of 2021-22.

Profit before tax (PBT) grew by 21% to Rs 475 crore for the third quarter of 2022-23 from Rs 391 crore in third quarter of 2021-22.

The company registered total two-wheeler sales of 8.36 lakh units in the current quarter as against 8.35 lakh units in the quarter ended December 2021. Two-wheeler export sales registered 2.07 Lakh units as against 2.53 Lakh units in December 2021.

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.

Electric vehicles registered sales of 0.29 lakh units in the quarter ended December 2022 as against 0.02 lakh units during the quarter ended December 2021 and 0.16 lakh units during quarter ended September 2022.

The board at its meeting held today, declared an interim dividend of Rs 5 per share, absorbing a sum of Rs 238 crore for the financial year 2022-23.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

The scrip advanced 0.44% to end at Rs 986.20 on the BSE today.

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