TVS Motor Q3 profit drops 18% to INR 237cr; appoints Ralf Dieter as Chairman from April 1, 2022, Auto News, ET Auto

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On a standalone foundation, TVS Motor reported a progress of 9% in its revenue to INR 288.31 crore throughout Q3 FY22, as in comparison with INR 265.62 crore throughout Q3 FY21.
New Delhi: TVS Motor Company on Monday reported a decline of 18.34% in its consolidated revenue to INR 236.56 crore for the interval of October-December 2021The firm had reported a consolidated revenue of INR 289.69 crore for October-December 2020. Its consolidated income from operations throughout Q3 FY22 rose to INR 6,597 crore, as towards INR 6,094 crore throughout Q3 FY21. TVS Motor has appointed Prof Sir Ralf Dieter Speth, Non-Government Director, as Chairman of the Board efficient from April 1, 2022. Venu Srinivasan, will proceed to be the managing director of the corporate designated as Chairman Emeritus, the corporate mentioned in a press release. On a standalone foundation, TVS Motor reported a progress of 9% in its revenue to INR 288.31 crore throughout Q3 FY22, as in comparison with INR 265.62 crore throughout Q3 FY21. Its income from operations stood at INR 5,706 crore for October- December 2021 interval, as towards INR 5,391 crore for October-December 2020. The corporateā€™s working EBITDA margin is at 10% in the course of the quarter as towards 9.5% in the course of the third quarter ended December 2020. The corporate registered the very best ever working EBITDA of INR 568 crores throughout this quarter as towards INR 511 crores reported within the quarter ended December 2020, the TVS assertion mentioned. TVS Motor recorded complete two-wheeler gross sales of 8.35 Lakh models within the third quarter of 2021 as towards 9.52 Lakh models within the quarter ended December 2020. Two-wheeler export gross sales grew by 12% in comparison with Q3 of the final monetary 12 months. Bikes registered gross sales of 4.46 Lakh models as towards gross sales of 4.26 Lakh models and scooters registered gross sales of two.56 Lakh models as towards 3.11 Lakh models within the quarter ended December 2020. Complete three-wheeler gross sales grew by 17% registering 0.44 Lakh models within the quarter ended December 2021 as towards gross sales of 0.38 lakh models within the quarter ended December 2020.Additionally Learn:
Home two-wheeler gross sales had been at 1,46,763 models in December 2021 in comparison with 1,76,912 models in December 2020, a decline of 17 per cent, the corporate mentioned.Its two-wheeler exports additionally declined by 3.39% to 86,344 models in January 2022 from 89, 380 models within the corresponding month a 12 months in the past, the corporate reported.



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