TVS Motor Company reported revenue of Rs 6,545 crore for Q3 FY2023, up 15 percent YoY, as against Rs 5,706 crore a year ago.
The EBITDA grew by 16 percent at Rs 659 crore as against Rs 568 crore a year ago. The net profit came at Rs 352 crore versus Rs 288 crore a year ago.
During the quarter the company sold 8.36 lakh two-wheelers, as against 8.35 lakh units a year ago. Two-wheeler exports came at 2.07 lakh units versus 2.53 lakh units last year. Three-wheeler sales came at 43,000 units versus 44,000 units a year ago. On the other hand, the company sold more than 29,000 electric vehicles versus around 16,000 units in Q2 FY2023.
In terms of financial year-to-date performance, TVS Motor Company reported its net profit crossed the Rs 1,000 crore mark for the first time in 9 months of FY2023. For the period the revenue came at Rs 1,834 crore, versus Rs 1,440 crore a year ago, and the net profit came at Rs 1,068 crore versus Rs 587 crore for the same period last year.
In the first nine months of FY2023, TVS Motor reported it’s overall two- and three-wheeler sales including exports grew by 15 percent registering 28.14 lakh units as against 24.53 lakh units.
The motorcycle sales grew by 4 percent registering 13.45 lakh units versus 12.90 lakh units for the same period last year. Scooter sales grew by 50 percent coming in at 9.94 Lakh units as against 6.61 lakh units.
The TVS iQube electric scooter sales came at 53,599 units in the nine months ended December 2022 as against 5,207 units in the nine months ended December 2021.
