TVS posts 42% rise in net profit to Rs 278 crore, highest-ever revenue of Rs 5,619 crore

The company on Thursday said it has been recognised in the category of outstanding renewable energy user at the third edition of the India Green Energy Award 2020 by the Indian Federation of Green Energy.

By:Updated: Oct 22, 2021 8:38 AM
tvs jupiter 125 review

 

Beating street estimates, TVS Motor Company, the flagship of the $8.5-billion TVS Group, on Thursday recorded a 41.8% jump in its net profit to Rs 278 crore for the second quarter of FY22 form Rs 196 crore in the corresponding quarter last fiscal. The Chennai-based company reported its highest-ever revenue of Rs 5,619 crore in the quarter under review as against Rs 4,605 crore in Q2FY21, registering a growth of 22% on the back of increased sales volumes and improved international operations. Focused working capital management and improved operating performance helped the company generate operating free cash flow of Rs 1,090 crore in Q2, TVS Motor said.

The company also posted highest ever EBITDA of Rs 562 crore in Q2 as against Rs 430 crore during the quarter ended September 2020, despite challenges in terms of increase in commodity costs, scarcity of containers for international business and shortage in semiconductors, through significant cost reduction initiatives and growth in revenue. In the first quarter, the company had reported net profit of Rs 53 crore, as against loss of Rs 139 crore in the corresponding quarter of last fiscal.

Watch Video | TVS Raider 125 First Ride Review:

TVS Motor’s PBT grew by 41% at Rs 377 crore during Q2 as against Rs 267 crore during the quarter ended September 2020. The company registered operating EBITDA margin of 10% during this quarter as against 9.3%. The company sold 8.7 lakh two-wheelers in the quarter as against 8.34 lakh units in the corresponding quarter last fiscal. Two-wheeler export sales grew 46%. Motorcycles registered sales of 4.39 lakh units in the quarter ended September 2021 as against 3.66 lakh units in Q2FY21, while scooter sales stood at 2.66 lakh units as against 2.70 lakh units.

The company’s recorded three-wheeler sales of 0.47 lakh units in the quarter ended September 2021 as against 0.33 lakh units in the corresponding quarter of the previous fiscal. TVS Motor recently rolled out its 1,00,000th unit of BMW Motorrad’s 310cc series of motorcycles from its Hosur facility. In 2013, TVS Motor and BMW Motorrad signed a cooperation agreement to develop and produce sub-500cc motorcycles for the global market. This strategic partnership has introduced three products on the 310cc platform: BMW G 310 R, BMW 310 GS and TVS Motor Company’s TVS Apache RR 310.

All three products are manufactured at the Hosur facility, which produces around 10% of BMW Motorrad’s volumes globally. The company on Thursday said it has been recognised in the category of outstanding renewable energy user at the third edition of the India Green Energy Award 2020 by the Indian Federation of Green Energy.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Latest Auto News