TVS delivers strong show in Q2 FY2023, clocks Rs 407 crore net profit

TVS Motor Co today announced its numbers for the second quarter of the ongoing fiscal year and they reflect the strong market performance of the Chennai-based two- and three-wheeler manufacturer.

While operating revenue grew by 28% to Rs 7,219 crore for July-September 2022 (Q2 FY2022: Rs 5,619 crore), operating rose by 31% to Rs 737 crore (Q2 FY2022: Rs 563 crore). EBITDA margin for the quarter is 10.2% as against 10% a year-ago. Profit Before Tax jumped by 46% to Rs 549 crore (Q2 FY2022: Rs 377 crore). Net profit was Rs 407.47 crore, up 27% (Q2: Rs 320.54 crore).

Two- and three-wheeler sales up 12%
In Q2 FY2023, TVS sold a total of 10.27 lakh two- and three-wheelers, up 12% (Q2 FY2022: 917,000). While motorcycle sales increased by 9% to 477,000 units in the quarter ended September 2022 (Q2 FY2022: 439,000), scooter sales grew by 44% to 383,000 (Q2 FY2022: 266,000). Scooter sales include 15,645 units of the iQube electric scooter, a 700% increase (Q2 FY22: 1,955 units). Two-wheeler exports at 252,000 units were down 6.66% (Q2 FY2022: 270,000 units). Three-wheeler sales grew by 7% to 51,000 units (Q2 FY2022: 47,000 units)  

During Q2 FY2023, TVS launched the 225cc Ronin, Apache RTR 160 and the RTR 180 motorcycles and the updated iQube e-scooter with 140km range.

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