TVS achieves reports profit of Rs 1,491 crore in FY2023, up 66%

TVS Motor Co’ revenue from operations in the quarter ended March 2023 grew by 19 percent at Rs 6,605 crore against Rs 5,530 crore in the quarter ended March 2022.

The Operating EBITDA for the fourth quarter was higher at 10.3 percent. The Company achieved record Operating EBITDA of Rs 680 crore for the fourth quarter with a growth of 22 percent as against Rs 557 crores in the fourth quarter of 2021-22. 

The company’s Profit Before Tax (PBT) grew by 47 percent at Rs 547 crore in the fourth quarter of 2022-23 as against Rs 373 crore in the fourth quarter of 2021-22. 

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PBT for the quarter includes fair valuation gain of Rs 62 crore on the equity shares held by the company. Fair valuation gain is shown as part of “Other income” in the financials. During the quarter under review, Profit After Tax (PAT) grew by 49 percent at Rs 410 crore as against Rs 275 crore in the fourth quarter of 2021-22.

During the financial year 2022-23, revenue from operations grew by 27 percent at Rs 26,378 crore as against Rs 20,791 crore recorded in 2021-22.

Operating EBITDA for the year is higher at 10.1 percent compared to 9.4 percent in the previous year. The PBT before exceptional items for year ended March 2023 is higher at Rs 2,003 crore as compared to Rs 1,243 crore reported during previous year. 

PAT for the year ended March 2023 was at Rs 1,491 crore as compared to Rs 894 crore reported during the year ended March 2022.

The overall two-wheeler and three-wheeler sales including exports is at 8.68 lakh units in the quarter ended March 2023 as against 8.56 lakh units registered in the quarter ended March 2022. 

Motorcycle sales for the quarter ended March 2023 registered 3.89 lakh units as against 4.42 lakh units in quarter March 2022. Scooter sales for the quarter ended March 2023 grew by 30 percent registering 3.40 lakh units as against 2.62 lakh units in the fourth quarter of 2021-2022. 

Electric vehicles registered sales of 0.43 lakh units in the quarter ended March 2023 as against 0.06 lakh units during the quarter ended March 2022 and 0.29 lakh units during quarter ended December 2022.

Three-wheeler sales for the quarter under review is 0.29 lakh units as against 0.42 lakh units in the fourth quarter of 2021-22.