TVS Motors Q3 PAT up 28% at Rs 304 crore

Two-wheeler major, TVS Motor Company witnessed a consolidated net profit of Rs 303.6 crore in the quarter ending December 31, 2022 (Q2FY23), compared to a profit of Rs 236.56 crore, registering a growth of 28.4 percent yoy.

Consolidated revenue from operations stood at Rs 8,066.13 crore in Q3FY23 rising by 22 percent from Rs 6,597.35 crore in the Q3 quarter of the previous fiscal.

During the quarter under review, the Chennai-based company sold 0.29 lakh units of Electric vehicles as against 0.02 Lakh units in the corresponding period a year ago.

The company's operating EBITDA increased by 16 percent to Rs 659 crore in the third quarter of FY21-22, compared to Rs 568 crore in the third quarter of FY21-22. It sold a total of 8.36 lakh units of two-wheeler sales in the current quarter as against 8.35 lakh units in the quarter ended December 2021.

Two-wheeler exports stood at 2.07 Lakh units as against 2.53 Lakh units in December 2021. The company reported total three-wheelers sales of 0.43 Lakh units in the quarter ended December 2022 as against 0.44 Lakh units in the quarter ended December 2021.

During this quarter, the company launched TVS Raider SmartXonnect TFT variant with first-in class features such as TFT display, TVS SmartXonnect with voice-assist, Bluetooth connectivity, navigation, ride reports, and multiple ride modes.

TVS Motor Company announced a strategic engagement with Amazon India to strengthen electric mobility, electric infrastructure and connected services and strengthen their commitment to achieving net-zero carbon.