TVS Motor posts nearly 47 percent jump in Q2 profit, clocks highest ever revenue | The Financial Express

TVS Motor posts nearly 47 percent jump in Q2 profit, clocks highest ever revenue

The company’s Operating EBITDA grew by 31 percent at Rs 737 crore for the second quarter from Rs 563 crore in second quarter of FY2022.

TVS Motor posts nearly 47 percent jump in Q2 profit, clocks highest ever revenue
TVS Motors sold 242,012 vehicles in December 2022.

TVS Motor Company’s Q2Fy2023 operating revenue grew by 28 percent to Rs 7,219 crore from Rs 5,619 crore in Q2FY2022. Its standalone profit for the second quarter came in at Rs 407.47 crore, up 46.78 percent from Q2FY2022 profit of ₹277.60 crore.

The company’s Operating EBITDA grew by 31 percent at Rs 737 crore for the second quarter from Rs 563 crore in second quarter of FY2022.

Higher investments were made in all key brands with better availability of vehicles and launch of TVS Ronin and new TVS iQube Electric. 

The overall two-wheeler and three-wheeler sales including exports grew by 12 percent registering 10.27 Lakh units in Q2 from 9.17 Lakh units registered in same quarter last fiscal. 

Motorcycle sales grew by 9 percent registering 4.77 Lakh units in the quarter ended September 2022 as against 4.39 Lakh units in the quarter ended September 2021. 

Scooter sales for the quarter ended September 2022 grew by 44 percent registering 3.83 Lakh units as against the sales of 2.66 Lakh units in the second quarter of 2021-22. 

The Company recorded two-wheeler exports of 2.52 Lakh units in the quarter ended September 2022 as against 2.70 Lakh units in the quarter ended September 2021. 

Scooter sales include electric scooter sales of 15,645 units in the quarter ended September 2022 as against 1,955 units in the quarter ended September 2021.

The total two-wheeler sales of the company for the half-year ended September 2022 grew by 23 percent registering 18.38 Lakh units as against 14.88 lakh units recorded in the half-year ended September 2021.

The total three-wheeler sales for the half-year ended September 2022 grew by 12 percent registering 0.97 Lakh units as against 0.86 Lakh units registered in the half-year ended September 2021. The total export of two and three-wheelers for the half-year ended September 2022 is 6.36 Lakh units as against 6.43 Lakh units in the half-year ended September 2021.

Total revenue in the half-year ended September 2022 is Rs 13,228 crore against Rs. 9,554 crore in the half-year ended September 2021. The H1FY2023 profit after tax came in at Rs 728 crore as against Rs 331 crore in H1FY22.

The TVS Motor board has also approved the issuance of zero-coupon debentures (ZCDs) aggregating to Rs 310 crore in one or more tranches / series, to Sundaram Auto Components, a wholly owned subsidiary.

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First published on: 04-11-2022 at 19:24 IST