TVS Motor's Q3 net profit jumps 22.5% to Rs 353 crore; interim dividend of Rs 5 per share declared

TVS Motor registered total two-wheeler sales of 8.36 lakh units in Dec 2022 quarter (Representative image)

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TVS Motor has recorded a net profit of Rs 352.75 crore in the third quarter of fiscal year 2022-23, which is 22.5 percent higher as compared to Rs 288 crore clocked in the year-ago period, as per the standalone financial results declared by the company on January 24.

The board of directors of the two-wheeler manufacturer also gave their nod for the rollout of an interim dividend of Rs 5 per share, "absorbing a sum of Rs 238 crore, for the financial year ending March 31, 2023". The same would be paid to the eligible shareholders on or after February 9, a regulatory filing noted.

In the third quarter, TVS Motor's revenue came in at Rs 6,545 crore, which is around 14.7 percent higher as compared to Rs 5,706 crore recorded in the corresponding period of the last fiscal.

Also Read | TVS Motor subsidiary to acquire EV-related technology and assets in Germany

The homegrown company's earnings before interest, taxes, depreciation and amortization (EBITDA) surged by 16 percent to Rs 658 crore, as against Rs 568 crore in the year-ago period. The EBITDA margins stood at 10 percent, in comparison to 10 percent in Q3 FY22.

The shares of TVS Motors closed at Rs 986.20 at the BSE on January 24, which was 0.44 percent higher as compared to the previous day's close.

In the December 2022 quarter, the company said it registered total two-wheeler sales of 8.36 lakh units, as against 8.35 lakh units in the year-ago period. The total registered export sales during the three-month period climbed to 2.53 lakh units from 2.07 lakh in December 2021 quarter, a press release noted.