TVS Motor Company reported operating revenue of Rs. 6,009 crores for the quarter ended June 2022 as against Rs. 3,934 crores reported in the quarter ended June 2021.
The company reported EBITDA of Rs. 599 crores for the first quarter of 2022-23 as against EBITDA of Rs. 274 crores in first quarter of 2021-22. Company’s EBITDA margin for the quarter is at 10% as against EBITDA margin of 7% reported in first quarter of 2021-22.
The company reported Profit Before Tax (PBT) of Rs. 432 Crores in the first quarter of 2022-23 as against of Rs. 102 crores in the first quarter of 2021-22. During the current quarter, the company reported Profit After Tax (PAT) of Rs. 321 crores as against Rs. 53 crores during first quarter of 2021-22.
The first quarter numbers are not strictly comparable with the first quarter of last year due to lockdowns.
The overall two-wheeler and three-wheeler sales including exports registered sales of 9.07 lakh units in the quarter ended June 2022 as against 6.58 lakh units registered in the quarter ended June 2021. Motorcycle sales registered 4.34 Lakh units in the quarter ended June 2022 as against 4.05 lakh units in quarter ended June 2021. Scooter sales for the quarter ended June 2022 is 3.06 lakh units as against the sales of 1.38 lakh units in the first quarter of 2021-22. The company recorded highest two-wheeler exports in this quarter registering 2.96 lakh units as against 2.90 lakh units in the quarter ended June 2021. Three-wheeler sales for the quarter under review is 0.46 lakh units as against 0.39 lakh units during first quarter of 2021-22. Electric Scooter sales registered 0.09 lakh units in the quarter ended June 2022 as against 0.01 lakh units in the quarter ended June 2021.
New Product Launches
During the quarter, the company launched TVS iQube Electric scooter in three variants that comes loaded with best-in-class on-road range of 140 km on a single charge. They offer a host of intelligent connected features such as 7” TFT touchscreen and clean UI, infinity theme personalisation, voice assist and TVS iQube Alexa skillset, intuitive music player control, OTA updates, fast charging with a plug-and-play carry along charger, vehicle health and safety notifications, multiple Bluetooth, and Cloud Connectivity options, 32 litre storage space.
The company also launched, TVS NTORQ XT with never seen hi-tech features like the industry’s first Hybrid TFT console and TVS SmartXonnectTM, which has 60+ hi-tech features including “SmartXtalk”, “SmartXtrack”. The scooter also features “TVS IntelliGO” technology.
Both the products have received extremely good response from the customers.