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TVS Motor Company on Tuesday said its consolidated net profit increased by 28 per cent to Rs 304 crore in the third quarter ended December 31, 2022.

The company had reported a net profit of Rs 237 crore for the October-December period of previous fiscal.

Total revenue increased to Rs 8,075 crore during the quarter as against Rs 6,606 crore in the year-ago period, TVS Motor Company said in a regulatory filing.

The company said its total two-wheeler sales rose to 8.36 lakh units in the third quarter of the current fiscal as against 8.35 lakh units in the quarter ended December 2021.

Two-wheeler exports rose to 2.07 lakh units as against 2.53 lakh units in December 2021. Total three-wheeler sales declined to 43,000 units in the reporting quarter as against 44,000 units in the quarter ended December 2021.

For the nine months ended December 31, 2022, the company reported a net profit of Rs 974 crore as compared with Rs 456 crore in the year-ago period.

The company’s board declared an interim dividend of Rs 5 per share (500 per cent), absorbing a sum of Rs 238 crore, for the financial year ending 31st March 2023.

Shares of the company on Tuesday ended 0.44 per cent up at Rs 986.20 apiece on the BSE. PTI MSS HVA

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