TVS Reports Highest Ever Turnover In Q4 FY 2022, But Net Profit Falls

TVS Motor Company has reported a 4 per cent increase in revenue in operations at Rs. 5,330 crore, as against Rs. 5,322 crore reported in the fourth quarter of 2020-21. Operating earnings before interest, depreciation, and amortisation (EBITDA) for the fourth quarter increased to 10.1 per cent. During the current quarter (January to March 2022), Proft After Tax (PAT) was reported at Rs. 275 crore, as against Rs. 289 crore in the fourth quarter of 2020-21. During the financial year 2021-22, revenue from operations grew by 24% at Rs. 20,791 Crores as against Rs. 16,751 Crores recorded in 2020-21. Operating EBITDA for the year is higher at 9.4% compared to 8.5% in the previous year, TVS Motor Company said in a press statement.

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Despite market challenges due to the pandemic, as well as supply chain constraints, TVS reported the best-ever sales figures in international markets in any financial year.

The Profit Before Tax (PBT) before exceptional items for year ended March 2022 grew by 50% at Rs. 1,243 Crores as compared to Rs. 826 Crores reported during previous year. The company reported highest-ever turnover and profit during FY 2021-22, and achieved 1 million two-wheeler sales in the international market. According to TVS Motor Company, the highest turnover and profit before tax was achieved under very challenging conditions of the COVID-19 second and third wave, as well as semiconductor shortage, container availability constraints and steep increases in commodity costs.

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Net profit for Q4 declined, but net profit for FY 2022 grew over 46 per cent from Rs. 612 crore during the year ended March 2021 to Rs 893 crore in FY 2021-22.

Net profit for the financial year ended March 2022 was at Rs. 894 crore, as compared to Rs. 612 crore reported during the year ended March 2021. In overseas markets, TVS two-wheelers clocked 1.09 million units in FY 2021-22, achieving the highest-ever exports for the first time in a financial year.

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The overall two-wheeler and three-wheeler sales including exports is at 8.56 Lakh units in the quarter ended March 2022 as against 9.27 Lakh units registered in the quarter ended March 2021. Motorcycle sales registered a growth of 2% at 4.42 Lakh units in the quarter ended March 2022 as against 4.31 Lakh units in quarter March 2021. Scooter sales for the quarter ended March 2022 registered 2.62 Lakh units against the sales of 2.98 Lakh units in the fourth quarter of 2020-2021.

During the year ended March 2022, the overall two and three-wheeler sales of TVS Motor Company, including international business grew by 8% at 33.10 Lakh units as against 30.52 Lakh units in the year 2020-21. Motorcycles sales during the fiscal year grew by 29% at 17.32 Lakh units as against 13.41 Lakh 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% at 1.72 Lakh units in the year ended March 2022 as against 1.24 Lakh units in the year ended March 2021. The Company's total sales in international markets recorded a growth of 43% increasing from 8.79 Lakh units in the year ended March 2021 to 12.53 Lakh units in the year ended March 2022.