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TVS Motor Q3 standalone net profit rises 22% to ₹353 cr.

Operating revenue grew by 15% to ₹6,545 crore. The sale of Electric Vehicles increased to 29,230 from 2,306 units

January 24, 2023 08:36 pm | Updated January 26, 2023 10:17 am IST - CHENNAI

TVS Motor Company’s standalone net profit for the quarter ended December rose by 22% to ₹353 crore over the year-earlier period.

Operating revenue grew by 15% to ₹6,545 crore. The sale of Electric Vehicles increased to 29,230 from 2,306 units, it said in a statement.

The total sales of two-wheelers and three-wheelers remained flat at 8.79 lakh units, while exports of two-wheelers contracted to 2.07 lakh units from 2.53 lakh units.

The board declared an interim dividend of ₹5 per share. The record date is February 2.

During the quarter, TVSM had invested ₹150 crore in TVS Credit Services Ltd., and ₹91 crore in TVS Motor (Singapore) Pte Ltd. During August 2022, it had acquired 48.27% stake in DriveX Mobility Pvt. Ltd., Coimbatore for ₹85 crore.

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