TVS Reports 22% Rise In Q3 FY2023 Profit At Rs. 353 Crore; Revenue Grows 15% YoY

During the quarter that ended on December 31, 2022, the company's profit after tax (PAT) stood at Rs. 352.75 crore. Compared to the Rs. 288.31 crore PAT reported during the same October to December period in 2022, the company witnessed a growth of 22 per cent year-on-year.

By Seshan Vijayraghvan

Published on January 24, 2023

Highlights

During Q3 FY2023 TVS' profit after tax (PAT) stood at Rs. 352.75 crore.
TVS Motor Company’s operating revenue also grew by 15 per cent at Rs. 6,545 crore.
In Q3 FY2023 TVS registered total two-wheeler sales of 8.36 Lakh units.

Home-grown two-wheeler manufacturer, TVS Motor Company has released the financial results for the third quarter of the Financial Year 2022-23. During the quarter that ended on December 31, 2022, the company's profit after tax (PAT) stood at Rs. 352.75 crore. Compared to the Rs. 288.31 crore PAT reported during the same October to December period in 2022, the company witnessed a growth of 22 per cent year-on-year. During Q3 FY2023, TVS Motor Company’s operating revenue also grew by 15 per cent at Rs. 6,545 crore as against Rs. 5,706 crores revenue generated in the quarter that ended in December 2021.

Also Read: TVS Motor Co Crosses 50,000 Unit Sales Milestone For iQube Electric Scooter

TVS registered total two-wheeler sales of 8.36 Lakh units, compared to 8.35 lakh units sold during the same quarter last year.

During the third quarter of the current fiscal year, the company volumes remained flat as TVS registered total two-wheeler sales of 8.36 Lakh units, compared to 8.35 lakh units sold during the same quarter last year. At the same time, the company reported an 18 per cent drop in two-wheeler exports. In Q3 FY2023 the company registered export sales of 2.07 Lakh units as against 2.53 Lakh units exported during the same quarter in 2021. TVS also registered total three-wheeler sales of 43,000 units in the quarter that ended on December 2022, as against 44,000 units sold in Q3 FY2022.

As for electric vehicle sales, the company sold 29,000 units in the quarter that ended in December 2022, as against 2,000 units during the same period in 2021. In comparison, the company sold 16,000 units during the quarter that ended in September 2022.

The company sold 29,000 units in the quarter that ended in December 2022.

As for the first nine months of FY2023, between April and December 2022 TVS’ total PAT stood at Rs. 1,080.76 crore. The company has reported a cumulative nine months PAT of over Rs. 1000 crore for the first time. Compared to Rs. 893.56 crore PAT generated during the same period in FY2022, the company saw a growth of 21 per cent. During the first three quarters of FY2023 TVS’s total revenue from operations was Rs. 19,773.31 crore, as against Rs. 20,790.51 crore revenue generated in FY2022.