TVS Automobile Co posted a 49% growth in net profit in the fourth quarter at 410 crore compared to a net profit of 275 crore in the corresponding quarter of fiscal 2022.
Operating revenue in the latest quarter rose 19% year-on-year to ₹6,605 crore (₹5,530 crore).
For the full year, the company’s net profit increased 67% to ₹1,491 crore in fiscal year 2023 compared to a net profit of ₹894 crore for fiscal year 22. The company achieved its highest revenue from year-to-date from operations was ₹26,378 crore in the previous fiscal versus sales of ₹20,791 crore.
company profits before tax (PBT) also hit a new high of 2003 crore, up 61% from PBT of 1,243 crore in FY 2022.
overall sell two-wheelers and three-wheelers including exports reached 8.68 thousand units in the quarter ended March 2023 compared with 8.56 thousand units registered in the quarter ended March 2022. For the full year, total sales of second and second vehicle tricycle increased 11% to 36.82 thousand units compared to 33.10 thousand units in 2021-22.
Tricycle sales in the fiscal year were 1,690,000 units in the year ended March 2023 compared with 1.72 lakh units in the previous fiscal year.
Meanwhile, shares of TVS Motor Company closed at Rs 1,180 per share on the NSE on Thursday, 2% above Wednesday’s closing price.