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TVS Motor Q1 Result | Auto firm back in black, posts net profit of Rs 306 crore

On a standalone basis, its profit came in at Rs 321 crore as against Rs 53 crore logged in the first quarter of FY22, registering a growth of over four-fold.

July 28, 2022 / 05:16 PM IST
 
 
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TVS Motor Company on July 28 said its consolidated profit for the quarter ended June (Q1FY23) stood at Rs 305.37 crore against a loss of Rs 10.55 crore posted in the same quarter last year.

Its revenue from operations zoomed 56 percent on-year at Rs 7,315.70 crore against Rs 4,689.34 crore logged in Q1FY22.

On a standalone basis, its profit came in at Rs 321 crore as against Rs 53 crore logged in the first quarter of FY22, registering a growth of over four-fold. Operating revenue came in at Rs  6,009 crore against Rs 3,934 crore last year.

The first quarter numbers are not strictly comparable with the first quarter of last year due to lockdowns in the base quarter.

TVS Motor Company said it posted the highest ever revenue, EBITDA, and profit in Q1. On a standalone basis, the company reported an EBITDA of Rs 599 crore as against Rs 274 crore in the first quarter of 2021-22. EBITDA margin for the quarter was at 10 percent as against 7 percent reported in the first quarter of 2021-22.

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According to its earnings release, the overall two-wheeler and three-wheeler sales including exports registered sales of 9.07 lakh units in the quarter ended June 2022 as against 6.58 lakh units registered in the quarter ended June 2021.

Motorcycle sales registered 4.34 lakh units against 4.05 lakh, scooter sales were at 3.06 lakh against the sales of 1.38 lakh units. The company recorded the highest ever two-wheeler exports in this quarter registering 2.96 lakh units as against 2.90 lakh units in the quarter ended June 2021.

Three-wheeler sales for the quarter under review were 46,000 units as against 39,000 units a year ago. Electric Scooter sales registered 9,000 units against 1,000 units.
Moneycontrol News
first published: Jul 28, 2022 04:36 pm
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