Operating EBITDA for the company increased 16% to Rs 659 crore for the third quarter of 2022–23 from Rs 568 crore in the same period last year.
Digital Desk: The largest automaker in Chennai, TVS Motor Company, reported a 28% increase in third-quarter net profit to Rs 303.6 crore from Rs 236.56 crore in the same period last year.
From Rs 6,597.35 crore in the quarter from October to December of 2021–22, the company's operating revenue increased by 22% to Rs 8,066 crore during the quarter under review. During the reported current quarter, the company sold 836,000 two-wheelers overall, compared to 835,000 units during the same quarter last year.
Its two-wheeler exports decreased from 253,000 units in December 2021 to 207,000 units during the quarter under review. In comparison to the quarter ending December 2021, when TVC Motor sold 44,000 three-wheelers, the quarter ending December 2022 saw sales of 43,000 three-wheelers. It sold 29,000 electric car units in the quarter that ended in December 2022, compared to 2,000 units in the quarter that ended in December 2021 and 16,000 units in the quarter that ended in September 2022.
Operating EBITDA for the company increased 16% to Rs 659 crore for the third quarter of 2022–23 from Rs 568 crore in the same period last year.
As opposed to the 10% recorded in the third quarter of 2021–22, its operating EBITDA margin for the period was 10.1%. The company's board of directors declared an interim dividend of Rs 5 per share (500%) for the fiscal year 2022–2023 at its meeting on Tuesday.
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