TVS Motor Net Profit Up 21% To Rs 336 Crore For Fourth Quarter

TVS Motor Company on Thursday said its consolidated net profit rose by 21 per cent to Rs 336 crore for the fourth quarter ended March 31, 2023, riding on the back of robust sales.

The company had reported a net profit of Rs 277 crore in the same period of the previous fiscal.

Revenue from operations rose to Rs 8,031 crore in January-March compared with Rs 6,585 crore in the fourth quarter of 2021-22 fiscal, TVS Motor Company said in a regulatory filing.

The company sold 8.68 units in the fourth quarter ended March 2023 as compared with 8.56 lakh units in the year-ago period.

For the 2022-23 fiscal, the company posted a consolidated net profit of Rs 1,329 crore as against Rs 757 crore in FY22. Revenue from operations rose to Rs 31,974 crore as against Rs 24,355 crore in the 2021-22 fiscal.

During FY23, the overall two and three-wheeler sales of the company grew 11 per cent to 36.82 lakh units as against 33.10 lakh units in the year 2021-22. Shares of the company ended 1.12 per cent up at Rs 1,169.85 apiece on the BSE.

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