TVS Motors Q3 Results: Profit rises 22% YoY to Rs 352 cr; co announces Rs 5 interim dividend

Leading 2-wheeler manufacturer on Friday reported 22.1% year-on-year (YoY) rise in its net profit to Rs 352 crore for the quarter ended December 31, 2022. The company had reported a net profit of Rs 288.3 crore in the same quarter of the previous fiscal year.

The company's operating revenue grew 15% at Rs 6,545 crore for the quarter as against Rs 5,706 crore in the year-ago quarter.

Its operating EBITDA grew 16% to Rs 659 crore for the quarter under review as against Rs 568 crore in the previous year.

Meanwhile, the company’s operating EBITDA margin for the quarter is at 10.1% as against the operating EBITDA margin of 10% reported in the third quarter of 2021-22.

"The board at its meeting held today, declared an interim dividend of Rs 5 per share (500%), absorbing a sum of Rs 238 crore for the financial year 2022-23. The record date for this payout will be February 2, 2023," the company said in a release.

TVS Motors registered total two-wheeler sales of 8.36 lakh units in the quarter as against 8.35 lakh units in the year-ago quarter. Two-wheeler export sales were registered at 2.07 lakh units as against 2.53 lakh units in December 2021.

The three-wheeler sales were reported at 0.43 lakh units in the quarter under review against 0.44 lakh units in the last year.

Electric vehicle sales were reported at 0.29 lakh units in Q3FY23 as against 0.02 Lakh units during Q3 FY22 and 0.16 Lakh units during Q2 FY23.

Shares of rose up to 1% to Rs 991.8 in Tuesday's trade. The stock has also risen about 58% in the last one year. However, year-to-date, it has fallen nearly 9%.