TVS Motor Q4 Results: Net profit falls 14% YoY to Rs 275 crore, revenue rises
- TVS Motor reported a 14% YoY decline in net profit at Rs 275 crore
- Revenue from operations rose to Rs 6,585 crore
- Board has declared an interim dividend of Rs 3.75 per share
TVS Motor Company reported a 14% year-on-year (YoY) decline in consolidated net profit at Rs 275 crore in the March quarter of the financial year 2022 as compared to a profit of Rs 319 crore in the March 2021 quarter. On a sequential basis, the profit declined 5% from Rs 288 crore recorded in the December quarter of fiscal 2022.
Revenue from operations for the Chennai-based automobile company rose to Rs 6,585 crore during the March 2022 quarter, as against Rs 6,132 crore in the year-ago period, the company said in a regulatory filing.
TVS Motor’s overall two-wheeler and three-wheeler sales, including exports in the March quarter stood at 8.56 lakh units as against 9.27 lakh units recorded in the quarter ended March 2021.
For the financial year ended March 31, 2022, the company reported a consolidated net profit of Rs 731 crore, up 20% from Rs 607 crore in the fiscal year 2020-21.
Revenue from operations surged to Rs 24,355 crore fiscal 2021-22 as against Rs 19,421 crore in fiscal 2020-21.
This was the highest-ever revenue and profit achieved during any financial year as the company achieved one million two-wheeler sales in the export market. This was achieved under the highly challenging condition of COVID-19 waves 2 & 3, semiconductor shortage, container availability shortages and a sharp increase in commodity cost, the management said in its earnings release.
TVS Motor’s total sales during the financial year grew by 8% to 33.10 lakh units from 30.52 lakh units in the financial year 2020-21.
The company’s board has declared an interim dividend of Rs 3.75 per share (375%) for the fiscal year 2021-22, amounting to a sum of Rs 178 crore.
TVS Motor stock ended with a gain of 2.60 points or 0.41% at Rs 630.10 per share on the National Stock Exchange (NSE).