TVS Motor Company's Q3 net profit increased by 28% to Rs. 304 billion

TVS Motor Company's Q3 net profit increased by 28% to Rs. 304 billion

On Tuesday, TVS Motor Company said that for the third quarter that ended on December 31, 2022, its consolidated net profit climbed by 28% to Rs 304 crore.

For the months of October through December of the previous fiscal year, the firm had posted a net profit of Rs 237 crore.

According to TVS Motor Company's regulatory filing, total sales grew to Rs 8,075 crore during the quarter from Rs 6,606 crore the year before.

In comparison to the third quarter of the previous fiscal year, which ended in December 2021, the firm said that its overall two-wheeler sales increased to 8.36 lakh units.

Exports of two-wheelers increased to 2.07 lakh units from 2.53 lakh units in December 2021. Sales of three-wheelers as a whole decreased from 44,000 units in the quarter that ended in December 2021 to 43,000 units in the reporting quarter.

The firm declared a net profit of Rs 974 crore for the nine months ending December 31, 2022, up from Rs 456 crore in the same period the previous year.

The company's board of directors announced an interim dividend of Rs 5 per share (500%) for the fiscal year ending March 31, 2023, which would consume a total of Rs 238 crore.

On the BSE, the company's shares on Tuesday finished 0.44 percent higher at Rs 986.20 a share.