TVS Motor Company Q4 net dips 5% to ₹275 crore on lower sales volume
The Hindu
Board elevated Sudarshan Venu as Managing Director
TVS Motor Company Ltd. has reported a 5% dip in its standalone net profit for the fourth quarter ended March to ₹275 crore on lower sales volume.
Revenue from operations grew by 4% to ₹5,530 crore, the manufacturer of two-and-three wheelers said in a statement.
For the three-month period, motorcycle sales registered 2% growth at 4.42 lakh units, scooter sales was marginally down to 2.62 lakh units from 2.98 lakh units and three-wheeler remained almost flat 0.42 lakh units (0.41 lakh units).
For FY22, net profit grew 46% to ₹894 crore and revenue from operations rose 24% to ₹20,791 crore. Overall two and three-wheeler sales including exports grew by 8% at 33.10 lakh units.
During the quarter, the company invested almost ₹711 crore in the shares of TVS Motor (Singapore) Pte. Ltd., ₹46 crore in TVS Motor Services Ltd. and ₹1 crore in TVS Electric Mobility Ltd.
On Thursday, the board elevated Sudarshan Venu as Managing Director with immediate effect.
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