TVS Motor’s Q3 profit up 9 percent

TVS Motor Company reported a nine percent growth profit in Q3FY2022 at Rs 288 crore as against Rs 266 crore in Q3FY2021. Better pricing and mix improvement across segments helped offset cost inflation.

The two-wheeler manufacturer also reported its highest-ever operating revenue of Rs 5,706 crore in the Q3FY2022. (Q3FY2021operating profit: Rs 5,391 crore). The company also registered its highest ever operating EBITDA of Rs 568 crore during this quarter. 

For a nine-month period,  the company’s operating revenue ended at Rs 15,260 crore as against Rs 11,429 crore reported for the year-earlier period. Profit After Tax (PAT) for the nine months ended December 2021 is Rs 619 crore. 

The company registered total two-wheeler sales of 8.35 lakh units in Q3FY2022 as against 9.52 lakh units in Q3FY2021. Export sales grew by 12 percent. While motorcycles registered sales of 4.46 lakh units, scooter sales were at  2.56 lakh units. Total three-wheelers sales grew by 17 percent registering sales of 0.44 lakh units in Q3FY2022. (0.38 lakh units sold in Q3FY2021.) 

Commenting on the monthly sales, the company said the production and sales of premium two-wheelers were severely affected due to the shortage of semiconductors.